During the April-February period of the 2024-25 fiscal year, India’s oilmeal exports were negatively impacted by the lack of demand for rapeseed meal in overseas markets and the surplus supply of soyabean meal in the global market. According to data from the Solvent Extractors’ Association of India (SEA), the country exported 39.33 lakh tonnes (lt) of oilmeals during this period, a decrease of 12.39% from the previous year’s figure of 44.90 lt.
The total oilmeal exports for February 2025 stood at 3.30 lt, down from 5.15 lt in February 2024. BV Mehta, the Executive Director of SEA, attributed the decline in rapeseed meal exports during April-February 2024-25 to the lack of demand from international markets. The export price of rapeseed meal dropped from $270 a tonne a month ago to $190 a tonne as of March 17, significantly lower than the $285 a tonne price in March 2024. India exported 16.82 lt of rapeseed meal during this period, marking a 17.53% decrease from the previous year’s 20.39 lt.
The export of castorseed meal also saw a decline, dropping to 2.74 lt in April-February 2024-25 from 3.49 lt in the same period of the previous fiscal year, a 21.44% decrease. Mehta noted that the ban on the export of de-oiled ricebran since August 2023 has had a significant impact on domestic producers in Eastern India, leading to a sharp decline in prices from ₹13,500 per quintal to ₹8,500 per quintal.
Despite these challenges, the export of soyabean meal remained relatively stable during the first 11 months of 2024-25, with India exporting 19.40 lt compared to 19.34 lt in the same period of the previous fiscal year. Mehta attributed this to imports by countries like Germany and France. However, the export of soyabean meal declined by 23% during October-February of 2024-25, with India exporting 10.31 lt compared to 13.47 lt in the previous year.
Mehta highlighted that the decline in soyabean meal prices from $380 a tonne to $360 a tonne was a result of oversupply and weak demand in the global market. Major importers of Indian oilmeals during April-February 2024-25 included South Korea, Vietnam, Thailand, Bangladesh, and Kenya, with European countries emerging as significant importers of Indian soyabean meal. Overall, the challenging market conditions have led to a decrease in India’s oilmeal exports during the current fiscal year.
