Due to record output of oilseeds in the 2010-11 crop year, oilmeal exports shot up by 84 per cent to 3.2 lakh tonnes in May 2011, compared to 1.73 lakh tonnes in the same month of last year.
In a statement, the Solvent Extractors' Association of India (SEAI) said that exports of oilmeal more than doubled to 8.21 lakh tonnes in the first two months of the current fiscal, compared to 3.77 lakh tonnes in the year-ago
period.
During April-May 2011, oilmeal imports by Japan from India climbed more than 300 per cent to 2.05 lakh tonnes from 48,887 tonnes in the year-ago period. Besides, Vietnam imported 1.10 lakh tonnes during the period under consideration against 41,853 tonnes in the same period of the previous year.
SEAI data indicates that oilmeal exports have climbed for seven months in a row in the current oil year (November 2010-October 2011).
Besides, exports have nearly doubled to 40.04 lakh tonnes in the current oil year till May, compared to 20.58 lakh tonnes in the same period of the previous year.
The Association attributes the continuous rise in exports to the sharp increase in oilseed output to 30.25 million tonnes in 2010-11, compared to 24.88 million tonnes in the previous year (2009-10).
The increased availability of oilseeds has led to higher crushing and output of oil and meals for domestic consumption and exports.
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