India's Oilmeal Export Trends: Opportunities and Challenges

India's oilmeal export rose by 5% in October but witnessed a 7% decline for the April-October period due to lower rapeseed and castorseed exports. The Solvent Extractors Association of India highlights challenges in rapeseed meal export due to high international pricing and suggests government incentives.

India's export of oilmeals saw a moderate increase of 5% in October, totaling 3.05 lakh tonnes, compared to 2.89 lakh tonnes a year earlier, as stated by the Solvent Extractors Association of India (SEA).

Nonetheless, a broader look at the April to October period shows an overall 7% decline in oilmeal exports, amounting to 23.88 lakh tonnes, with decreased shipments of rapeseed and castorseed meals cited as primary factors.

Notably, the SEA has called attention to a significant drop in rapeseed meal exports, which have fallen 25% to 11.8 lakh tonnes thus far this fiscal year from 15.1 lakh tonnes during the same period last year, highlighting high international prices as a challenge.

(With inputs from agencies.)