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Oilmeal exports from India, Asia’s top supplier of animal feed made from soybeans, jumped 42 per cent to 4.92 lakh tonnes (lt) during November as against 3.46 lt the same period last year, according to latest data compiled by the Solvent Extractions' Association of India (SEA).
Better price realisation coupled with rising overseas demand and increased activities in crushing boosted the overall meal export. Oilmeal exports aggregated 23.8 lt during April-November 2010, a jump of 26 per cent from 18.9 lt during the same period of the previous year. Oilmeal exports to Japan soared 116 per cent to 6.7 lt (3.1 lt) during April-November, while exports to China increased 32 per cent to 2.47 lt (1.86 lt).
Export to Japan, South Korea, Vietnam, and Thailand increased to 492,740 metric tonnes, compared with 346,859 tonnes a year earlier. Shipments in eight months through November rose 26 per cent to 2.38 million tonnes.
Soyabean and rapeseed meals continue to be the highest contributors to the basket of oilmeal exports. Export of soyameal in November jumped to 4.4 lt (2.97 lt) while that of rapeseed meal nearly doubled to 41 tonnes. Soyameal extraction price, which was in the range of US$350/tonne in the first quarter of this financial year, also shot up to US$411 in November.
India exports the majority of its soybean meal, mixed with poultry feed as a form of protein to aid the growth of birds and cattle. Soybean output in India may reach a record 10.1 million tons this crop year as average yield per hectare will increase 8 percent to 1,089 kilograms because of a stronger-than-normal monsoon.