India’s oilmeals export declined by 7 per cent during the first seven months of 2024-25 due to the reduction in export of rapeseed meal and castor seed meal.
According to the Solvent Extractors’ Association of India (SEA), India exported 23.88 lakh tonnes (lt) of oilmeals during April-October of 2024-25 against 25.66 lt in the corresponding period of the previous fiscal, registering a decline of 7 per cent.
BV Mehta, Executive Director of SEA, said India has long been a key exporter of rapeseed meal as an essential cattle feed ingredient in the international market. In April-March of 2023-24, India exported nearly 22.13 lt of rapeseed meal, providing crucial support to farmers by enabling better prices for their produce.
New challenges
Stating that this year presents new challenges, he said rapeseed meal exports have declined by approximately 25 per cent from April to October 2024-25, with only 11.76 lt exported compared with 15.13 lt during the same period last year. “This reduction is largely due to our higher pricing in the international market,” he said.
The export of soyabean meal increased to 10.24 lt during the first seven months of 2024-25 against 6.74 lt in the corresponding period of the previous year. He attributed this increase to higher import by UAE, Iran, and France.
Referring to the global glut in soyabean meal production, he said it is up by nearly 280 lt, reaching 4220 lt. “Increased demand for soyabean oil for food and energy has driven crushing activities, resulting in an oversupply of soyabean meal, which in turn has placed downward pressure on the prices of all oil meals, including rapeseed meal,” he said.
Major importers
During April-October 2024-25, South Korea imported 4.33 lt of oilmeals (5.22 lt) from India. This included 3.07 lt of rapeseed meal, 92,777 tonnes of castorseed meal, and 32,873 tonnes of soyabean meal.
India exported 1.53 lt of oilmeals (3.10 lt) to Vietnam during the first seven months of the fiscal 2024-25. This included 1.31 lt of rapeseed meal, 8,513 tonnes of soyabean meal, 10,970 tonnes de-oiled ricebran extraction, and 2,361 tonnes of groundnut meal.
Thailand imported 2.55 lt of oilmeals (4.41 lt) during April-October 2024-25. This included 2.50 lt of rapeseed meal, and 4,135 tonnes of soyabean meal, and 1,388 tonnes of groundnut meal.
India exported 4.28 lt of oilmeals (5.06 lt) to Bangladesh during the first seven months of the financial year 2024-25. This included 3.82 lt of rapeseed meal, and 45,753 tonnes of soyabean meal.