India’s oil meal exports fell by 9.34% in April-January 2024-25, reaching 36.03 lakh tonnes, compared to 39.74 lt in the previous fiscal. The decline was mainly due to a sharp drop in rapeseed meal exports, which fell from 18.95 lt to 15.42 lt, and castor seed meal exports, which declined from 3.27 lt to 2.58 lt.
Uncertainty in Bangladesh, a key rapeseed meal buyer, impacted shipments. However, soybean meal exports surged to 17.71 lt due to higher European demand. Major buyers like South Korea, Vietnam, Thailand, and Bangladesh reduced purchases, further affecting the trade.
Despite increasing soybean production, overall oil meal exports struggled due to weaker demand and competitive global markets. The price performance of oil meals varied based on demand and procurement, with the Indian government procuring over 14.73 lt of soybeans at an MSP of ₹4,892 per quintal.
