Oilmeal exports rose 36 per cent to around 2.9 lakh tonnes last month due to higher consignments of soybean de-oiled cake (DOC) and rapeseed DOC. This information is obtained from oil industry data. Solvent Extractors Association of India (SEA) data showed that exports of oilmeal (DOC) stood at 2,89,931 tonnes in October, as against 2,13,153 tonnes in the same month last year.
Soybean DOC exports rose to 87,060 tonnes last month from 40,196 tonnes in the year-ago period, while rapeseed DOC exports rose to 1,69,422 tonnes during the period under review from 98,571 tonnes earlier. “The main consumer of Indian soybean DOC is South-East Asia, where India has a logistics advantage and can supply even smaller quantities,” said SEA Executive Director B.V. Mehta said.
Besides, Indian soybean DOC has the advantage of being non-GMO and is preferred by some European countries and the US, he said. The total export of oilmeal increased by 30 per cent to 25,66,051 tonnes during the April-October period of the current financial year as against 19,75,496 tonnes in the same period last year. Soybean DOC exports rose to 6,73,910 tonnes in the first seven months of the current financial year from 1,61,534 tonnes in the year-ago period.