India's oilmeal exports fell by 8.5% to 20.82 lakh tonnes in the first half of fiscal 2024-25, compared to 22.76 lakh tonnes a year earlier. The decline is attributed to reduced exports of rapeseed and castorseed meals. While exports to major markets like South Korea, Vietnam, and Thailand decreased, soyabean meal exports rose to 9.08 lakh tonnes due to increased demand from the UAE, Iran, and France. The Soyabean Processors Association of India (SOPA) estimates a higher soybean production this year at 125.18 lakh tonnes, though the sown area is reported lower than the government estimate.
Highlight Points
# India's oilmeal exports dropped 8.5% in April-September 2024-25.
# Rapeseed meal exports fell to 10.15 lt from 13.44 lt last year.
# Soyabean meal exports rose to 9.08 lt, driven by higher demand.
# South Korea, Vietnam, and Thailand reported reduced oilmeal imports.
# SOPA estimates kharif soybean production at 125.18 lt this year.
India's oilmeal exports witnessed an 8.5% decline during the first six months of 2024-25, dropping to 20.82 lakh tonnes from 22.76 lakh tonnes in the previous year's corresponding period. This reduction is largely attributed to a significant fall in the export of rapeseed and castorseed meals. Rapeseed meal exports fell from 13.44 lakh tonnes in April-September 2023-24 to 10.15 lakh tonnes in the current fiscal, while castorseed meal exports decreased from 1.81 lakh tonnes to 1.38 lakh tonnes. Key importers like South Korea, Vietnam, and Thailand showed a noticeable reduction in imports during this period.
In contrast, soyabean meal exports recorded a positive trend, growing to 9.08 lakh tonnes from 5.86 lakh tonnes in the same period last year. This increase was supported by higher purchases from countries such as the UAE, Iran, and France. The demand for soyabean meal was buoyed by global consumption needs and competitive pricing from Indian exporters.
Other developments include SOPA's kharif soybean production estimate at 125.18 lakh tonnes for 2024-25, indicating a potential rise in domestic availability. However, the sown area reported by SOPA at 118.3 lakh hectares is below the government's estimate of 127.13 lakh hectares, highlighting a variance that may impact future production outcomes.
Finally
The decline in oilmeal exports is offset by growth in soyabean meal shipments, driven by increased demand from key markets.