The Federation of Indian Chambers of Commerce and Industry (FICCI) has said that India is capable of doubling export of oilmeals to China to Rs 1,200 crore and has invited the Solvent Extractors’ Association of India (SEA) to participate in the India Forum to be held in Shanghai in August 2010.

This development is expected to cheer as well as encourage the numerous SMEs engaged in export of oilmeals and soymeals to focus on China as a potential market for greater investments. Notably, oilmeal exports to China and Japan had reduced earlier this year because of tough competition from the US, Argentina and Brazil, which were offering better quality oilmeals to the Eastern countries.

Now with FICCI organising a conference which is expected to bolster oilmeal exports to China, SME exports to the Eastern country may revive again. Some of the countries to which small Indian oilmeal exporters ship their products and can also tap the markets further are Thailand, Indonesia, South Korea, Vietnam, Malaysia, Sri Lanka, Singapore, Greece, France, Turkey, Russia and New Zealand.

Sreemita Bhattacharya