China, Cambodia new venues for oilmeal exports

India’s deoiled meals would remain in high demand in the overseas markets, as China and Cambodia emerge as the key export destinations for the commodity. According to the details provided by the Solvent Extractors Association of India (SEA), oilmeal exports from India have seen a sharp rise over the past one year, and the trend is expected to continue in the coming months.

According to the SEA estimates, China is now emerging as a key export destination for oilmeals. The neighbouring country is buying large quantities of extractions of rapeseed, soybean and groundnut from India. The total exports from India are expected to be around 500,000 tonnes per annum, valuing over Rs 600 crore.

A SEA delegation, led by its president Sushil Goenka, visited China and Cambodia during April 23 and May 3, with an objective to strengthen the relations with the end users of Indian deoiled meals (extractions). India being a producer of non-genetically modified variety of oilmeal, there were better prospects for overseas demand.

The delegation found China to be a potential market for exports of Indian deoiled meals, particularly for rapeseed. The exports can be doubled in the next three years from the present level of half a million tonne, SEA noted.

In order to promote the export of oilmeals, SEA has decided to participate in various exhibitions being held across China from time to time to create further awareness about Indian oilmeals, as well as create confidence in the minds of the Indian buyers being a serious and regular source of supply for oilmeals.