Oilmeal exports rise almost fourfold in August

NEW DELHI: Country���s oilmeal exports have nearly quadrupled in August to 4.20 lakh tons on the back of strong demand from overseas markets and prompt supply by domestic traders.

The oilmeal exports in August 2007 stood at 1.23 lakh tons.

According to the data compiled by Solvent Extractors Association, overall export of oilmeals from April to August has almost doubled to 23.17 lakh, compared with 10.93 lakh tons of last year due to a major increase in the shipments of soybean meal, rapeseed meal and groundnut meal. However, export of other oilmeals such as rice bran extraction and castor seed extraction have decreased during the period, it said.

India's oilmeal exports to Vietnam has witnessed a quantum jump to 5.63 lakh tons during April to August from 3.96 lakh tons last year, consisting 4.54 lakh tons of soyameal, 25,997 tons of rapeseed meal and entire 82,981 tons of ricebran extraction from India, the industry body said.

Similarly, exports to South Korea and Japan have registered a significant increase.

Oilmeals are mainly used as animal feed.