Due to a high demand from international bird feed and animal feed industries India's oilmeal exports are up 158% to 579,907 tonnes in March, from 224,407 tonnes for the same period last year, according to Mumbai-based Solvent Extractors Association (SEA).
In terms of volume the overall shipment of oilmeals rose 57% to 5,071,779 tonnes in the financial year (from April 2010 to March 2011), compared to 3,224,787 tonnes in the previous financial year. In value terms total exports grew 59 per cent to Rs 8,220 crore (over €12.8 million) in 2010-11, compared to Rs 5,176 crore (€0.8 million approx) in the previous financial year.
However despite the impressive rise the oilmeal exports did not match the figures of 2008-09, when the recoved volume exported was 5,421,607 tonnes.
Attributing the growth to a recovery in global demand, B V Mehta, executive director of SEA, said: “Our effort to increase exports to West Asia brought favourable results. Total exports to the West Asian countries surged 58% to 505,644 tonnes during last financial year, compared to 320,504 tonnes in the one before that.
SEA took a delegation to West Asia in April-May 2010 and evaluated oilmeal demand from the bird feed and animal feed industries in the region. SEA are planning to take to a similar delegation to China and Cambodia between April 23 and May 3 to study the current status of their feed industry and explore new markets. Mehta hopes for a further boost to oilmeal demand from these two potential countries.
Despite a slowdown in demand from Japan in recent months, following the earthquakes and tsunami there last month, the overall oilmeal exports to the country doubled to 1,259,870 tonnes in 2010-11, compared to 474,547 tonnes last year.
Vietnam imported 853,869 tonnes of oilmeal in 2010-11, compared to 857,690 tonnes in the previous financial year, despite the quarantine issue. South Korea imported 624,699 tonnes, compared to 477,171 tonnes, and China bought 536,604 tonnes, compared to 333,029 tonnes, in the previous year. Fortunately, Europe has once again started buying oilmeals from India and about 300,000 tonnes were shipped during 2010-11.