The lack of demand for rapeseed meal in overseas destinations and the excessive supply of soyabean meal in the world market impacted the overall export of oilmeals from India.

Data compiled by the Solvent Extractors’ Association of India (SEA) showed that India exported 39.33 lakh tonnes (lt) of oilmeals during the April-February period of 2024-25 fiscal against 44.90 lt in the corresponding period of 2023-24, recording a decline of 12.39 per cent.

• Read also: Soyameal exports down 19% in Oct-Feb on weak demand

Total oilmeal exports from India declined to 3.30 lt in February 2025 from 5.15 lt in February 2024.

BV Mehta, Executive Director of SEA, said the export of rapeseed meal plummeted during April-February 2024-25 due to the lack of demand from overseas destinations. The export price of rapeseed meal, which was $270 a tonne a month ago, declined to $190 a tonne on March 17, he said. The price was $285 a tonne in March 2024.

India exported 16.82 lt of rapeseed meal during April-February 2024-25 against 20.39 lt a year ago, recording a decline of 17.53 per cent.

Export of castorseed meal declined to 2.74 lt in April-February 2024-25 from 3.49 lt in April-February 2023-24, recording a decline of 21.44 per cent.

Stating that the export of de-oiled ricebran is banned since August 2023, he said it has seriously hurt the domestic producers in Eastern India. Following this, the local price of de-oiled ricebran crashed ₹8,500 per quintal from ₹13,500 per quintal a year ago.

Static soyameal

The overall export of soyabean meal remained more or less the same during the first 11 months of 2024-25. India exported 19.40 lt of soyabean meal during April-February 2024-25 against 19.34 lt in the corresponding period of 2023-24. He attributed this to the imports by Germany and France.

However, the export of soyabean meal declined by 23 per cent during October-February of 2024-25. India exported 10.31 lt of soyabean meal during October-February of 2024-25 against 13.47 lt in October-February 2023-24.

Mentioning that soyameal prices further declined from $380 a tonne a month ago to $360 a tonne now, he attributed the reasons such as excessive supply and poor demand in the world market for this price.

• Read also: February edible oil imports reach lowest levels since pandemic-affected May 2020

Major importers

South Korea imported 6.14 lt oilmeals from India during April-February 2024-25 (7.87 lt in April-February 2023-24). This included 3.94 lt of rapeseed meal, 1.66 lt of castorseed meal, and 54,156 tonnes of soyabean meal.

India exported 2.21 lt (3.94 lt) of oilmeals to Vietnam during the first 11 months of 2024-25. This included 1.87 lt of rapeseed meal, 22,208 tonnes of soyabean meal, 11,283 tonnes de-oiled ricebran extraction, and 3,003 tonnes of groundnut meal.

Thailand imported 4.13 lt of oilmeals (6.04 lt) from India during April-February 2024-25. This included 3.88 lt of rapeseed meal, 15,879 tonnes of soyabean meal, and 8,655 tonnes of groundnut meal.

India exported 6.89 lt of oilmeals (7.79 lt) to Bangladesh during the first 11 months of 2024-25. This included 5.51 lt of rapeseed meal, and 1.38 lt of soyabean meal.

Kenya imported 1.49 lt of soyabean meal during October-February 2024-25. Mehta said European countries have become the major importers of Indian soyabean meal. They imported around 5.95 lt during the first 11 months of 2024-25.