India’s oil meal exports fell 12.39% to 39.33 lakh tonnes during April-February 2024-25, primarily due to declining demand for rapeseed meals and an oversupply of soybean meal globally. Rapeseed meal exports dropped 17.53%, while castor seed meal exports fell 21.44%.
The de-oiled rice bran export ban since August 2023 further impacted domestic prices. Soybean meal exports remained flat, supported by imports from Germany and France, but saw a 23% dip from October to February.
South Korea, Vietnam, Thailand, Bangladesh, and Kenya remained key buyers, while European countries increased soybean meal imports to 5.95 lakh tonnes. Prices continue to fall due to weak global demand and surplus supply.
The de-oiled rice bran export ban hit Eastern India’s producers, causing local prices to crash from ₹13,500 per quintal to ₹8,500. Soybean meal exports held steady at 19.40 lakh tonnes, but prices dropped 23% during the October-February period due to oversupply and weak global demand.
