Indian oilmeal exports volume up by 8% in FY11-12 Close.

KOLKATA: The Indian oilmeal export in FY11-12 has clocked a 8% growth in volume and touched a figure of 5,480,083 tons as compared to 5,071,779 tons in FY10-11.

In value terms there has been a marginal growth of 1% to Rs 8,300 crore in FY11-12 as compared to Rs 8,200 crore in the previous fiscal, according to the Solvent Extractors' Association of India. The export of oilmeals during March 2012 is reported at 575,972 tons compared to 579,907 tons in March 2011.

Oilmeal import by Japan from India during April 2011 to March 2012 reported at 1,296,436 tons compared to 1,259,870 tons last year consisting of 1,266,840 tons of soybean meal and 29,596 tons of rapeseed meal. Vietnam, another major market, imported 903,554 tons compared to 853,869 tons last year consisting 668,114 tons of soybean meal, 58,715 tons of rapeseed meal and entire quantity of 176,725 tons of rice bran extraction.

South Korea, a major importer of oilmeal imported 836,223 tons compared to 624,699 tons last year, consisting of 427,229 tons of rapeseed meal, 317,106 tons of castorseed meal and 91,888 tons of soybean meal.

China imported 351,003 tons of oilmeal as compared to 536,604 tons consisting of 272,078 tons of rapeseed meal, 76,637 tons of soybean meal and 2,288 tons of groundnut meal. Europe and others have imported 386,107 tons of oilmeal compared to 299,770 tons in previous fiscal.

Source : economictimes.indiatimes.com