India’s oilmeals export down 9% in Q1 as shipments of rapeseed, castorseed oilmeals dip

India exported 11.02 lakh tonnes (lt) of oilmeals during the first three months of 2024-25 against 12.10 lt in the corresponding period of the previous fiscal, registering a decline of 9 per cent.

However, oilmeals export increased by 19.71 per cent in June. Data compiled by the Solvent Extractors’ Association of India (SEA) showed that India exported 3.35 lt of oilmeals in June 2024 against 2.80 lt in June 2023.

BV Mehta, Executive Director of SEA, said the decline in the oilmeals export during the first quarter was mainly due to reduction in export of rapeseed meal and castorseed meal. Added to this, there has been no export of de-oiled ricebran since September 2023 as the Government has prohibited its export.

India exported 5.23 lt of rapeseed meal during Q1 of 2024-25 against 6.20 lt in the corresponding period of 2023-24, registering a decline of 15.7 per cent. India’s castroseed meal exports decreased to 78,776 tonnes during April-June 2024-25 against 90,750 tonnes in Q1 of 2023-24.

He said the de-oiled ricebran prices are at the lower level and likely to go down further with increased availability of dried distiller grain solids (DDGS). In view of the above facts and sharp fall in prices of de-oiled ricebran, SEA has once again appealed to the Government not to extend the prohibition beyond July 31, he said.

India exported 4.96 lt of soyabean meal during April-June of the current fiscal against 3.64 lt in the corresponding period of the previous fiscal.

Mehta said soyabean meal (ex-Rotterdam) is being quoted at $423 a tonne now while soyabean meal (ex-Kandla) is being quoted at $495 a tonne. This makes the Indian soyabean meal expensive in international market. Excessive production of soyabean meal is also putting downward pressure on oilmeals prices, he said.

Major importers

South Korea imported 1.88 lt of oilmeals from India during April-June 2024-25 (2.47 lt in April-June 2023-24). This included 1.37 lt of rapeseed meal, 40,039 tonnes of castorseed meal, and 10,388 tonnes of soyabean meal.

India exported 55,420 tonnes of oilmeals (1.92 lt) to Vietnam during the first quarter of 2024-25. This included 48,920 tonnes of rapeseed meal, 4,736 tonnes of soyabean meal, and 1,764 tonnes of groundnut meal.

Thailand imported 1.08 lt (1.86 lt) of oilmeals from India during April-June 2024-25. This included 1.05 lt of rapeseed meal and 2,296 tonnes of soyabean meal.

India exported 2.18 lt of oilmeals (2.57 lt) to Bangladesh during Q1 of 2024-25. This included 1.83 lt of rapeseed meal, and 34,437 tonnes of soyabean meal.

He said Iran has turned out to be the largest importer of soyabean meal from India. This includes shipment via Dubai also. Iran imported 1.14 lt of soyabean meal during April-June 2024-25.