Oil meal exports fell by 10 percent in April-December period

17-Jan-2025 05:08 PM

India's oil meal exports experienced a 10% decline during the April-December 2024 period, compared to the same period in 2023, falling from 34.97 lakh tonnes to 31.51 lakh tonnes.

While the export of soymeal showed a positive trend, increasing from 12.11 lakh tonnes to 14.85 lakh tonnes, other key segments saw a decrease.

The export of rapeseed meal (mustard cake) dropped significantly from 18.24 lakh tonnes to 14.10 lakh tonnes,

castor meal fell from 2.97 lakh tonnes to 2.26 lakh tonnes, and rice bran extraction (de-oiled rice bran) saw a steep decline from 1.52 lakh tonnes to just 14,000 tonnes. Groundnut extraction exports slightly increased from 14,000 tonnes to 16,000 tonnes.

In December 2024, India’s oilmeal exports totaled 3.99 lakh tonnes, a 25% decrease from 5.33 lakh tonnes in December 2023.

Prices also saw a dip, with soya DOC falling to $363 per tonne and castor meal to $81 per tonne, while the price of rapeseed meal remained stable at $270 per tonne.

The primary buyers of Indian oilmeal during this period were South Korea, Thailand, Vietnam, and Bangladesh. However, their imports from India decreased compared to 2023, with significant drops in imports by South Korea, Vietnam, and Thailand.

This overall decline in oil meal exports can be attributed to the sharp drop in rapeseed meal and rice bran extraction exports, coupled with weaker demand from key international markets.