India’s Oilmeal Exports Drop 12%

India's oilmeal exports saw a 12.39% decrease in the April-February period of FY2024-25, totaling 39.33 lakh tonnes, due to a drop in demand for rapeseed meal and an oversupply of soybean meal globally. Rapeseed meal exports fell by 17.53% to 16.82 lakh tonnes, and castorseed meal exports also saw a decline of 21.44% to 2.74 lakh tonnes. Soybean meal exports remained relatively stable, with a slight increase of 0.06 lakh tonnes to 19.40 lakh tonnes, supported by demand from Germany and France. However, prices fell by 23% from October-February due to oversupply and weak global demand. South Korea, Vietnam, Thailand, Bangladesh, and Kenya were the main buyers, while European countries increased their soybean meal imports from India to 5.95 lakh tonnes.

India’s oilmeal exports fell 12.39% to 39.33 lakh tonnes during April-February 2024-25, mainly due to declining demand for rapeseed meal and an oversupply of soybean meal globally. Rapeseed meal exports dropped 17.53%, while castorseed meal exports fell 21.44%. The de-oiled rice bran export ban since August 2023 further impacted domestic prices. Soybean meal exports remained flat overall, supported by imports from Germany and France, but saw a 23% dip from October-February. South Korea, Vietnam, Thailand, Bangladesh, and Kenya remained key buyers, while European countries increased soybean meal imports to 5.95 lakh tonnes. Prices continue to fall due to weak global demand and surplus supply. India’s oilmeal exports witnessed a significant decline of 12.39% during April-February of FY2024-25, totaling 39.33 lakh tonnes compared to 44.90 lakh tonnes in the same period last year. This drop is mainly driven by sluggish demand for rapeseed meal and an oversupply of soybean meal in ...