India's oilmeal exports seen up on higher Asia demand
NAGPUR, India (Reuters) - India's oilmeal exports are seen rising this year on a bigger soybean crop and more Asian inquiries, a vegetable oil industry member said on Saturday.
Meal exports may touch 5.7 million tonnes at the end of the fiscal year in March 2008, up from 5.1 million tonnes in 2006-2007, B.V. Mehta, executive director of Solvent Extractors' Association of India said on the sidelines of a conference.
"There is a good demand from Asian countries such as Vietnam and South Korea," Mehta said. "Very soon China may place contracts," as there are inquiries from the country.
In April to September -- the first half of the current year -- India exported about 1.4 million tonnes of oilmeals, but the bigger season is likely to start now with fresh arrivals of soybean and groundnut.
India's meal exports meet one third of Asian requirement, with soymeal forming the major chunk. The protein-rich commodity is used as cattle and poultry feed.
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