India's annual oilmeal exports rose 13 percent in July, up for the ninth month in a row, as purchases from the Middle East climbed and improved demand came from buyers in Asia, a trend which is likely to continue next month. Oilmeal exports rose to 272,308 tonnes in July from a year ago, trade body the Solvent Extractors' Association of India said in a statement. July's oilmeal exports were up 8.8 percent on June, mainly due to a rise in exports to Vietnam, Japan and Taiwan.
B.V. Mehta, executive director of the Mumbai-based trade body, said demand improved from Vietnam as quality concerns about Indian oilmeal eased. In April, Vietnam rejected soyameal supplies from India over pest infestation issues but Mehta said imports were never fully halted.
Two soyabean crushing plants have recently started up in Vietnam and expectations are that they will increase the country's soyabean imports while reducing purchases of soyameal. Soyameal exports, which share the bulk of India's oilmeal sales, rose by a fifth to 139,547 tonnes in July from the previous month. Oilmeal exports in April to July to the Middle East soared 286 percent to 174,549 tonnes, as overall exports in the period rose about 80 percent to 1.4 million tonnes over a year ago.