India's Oilmeals Exports: A Declining Trend

India's oilmeals export experienced a 35% decline last month, influenced by reduced shipments of soybean, rapeseed, and castorseed meals. Over April-September 2024, exports fell by 9%. However, soybean meal exports rose, driven by increased demand from the UAE, Iran, and France.

India's oilmeals export saw a significant 35% drop last month, reaching just 2,13,744 tonnes due to declining shipments of soybean meal, rapeseed meal, and castorseed meal, as per the latest industry figures.

The Solvent Extractors' Association of India (SEA) in its statement reported a 9% decrease in total oilmeals exports for the April-September period of 2024, compared to the same timeframe last year. This decline was primarily due to reduced exports of rapeseed and castorseed meals.

Despite the overall downturn, soybean meal exports surged to 9.08 lakh tonnes in the first half of the fiscal year, fueled by increased imports from the UAE, Iran, and France. SOPA's estimates indicate a potential rise in Kharif soybean production, although the area sown remains below government projections.