Notable Decline in India’s Oilmeal Exports

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Decline in Oilmeal Exports And Comparative Export Data

In April 2024, a significant drop in the export of rapeseed meals led to an overall decline in India’s oil meal exports. The Solvent Extractors’ Association of India (SEA) reported a 6% decrease, with oil meal exports totaling 0.465 million tonnes compared to 0.493 million tonnes in April 2023. India’s export figures for April 2024 reveal notable shifts in various oil meals:

Unicaps Sunflower seeds
  • Soybean Meal: Increased to 1.99 lt from 1.77 lt in April 2023.
  • Rapeseed Meal: Decreased to 2.30 lt from 2.46 lt in April 2023.
  • Castor seed: Rose to 34,387 tonnes from 29,477 tonnes in April 2023.

Factors Influencing Export Trends

The Executive Director of SEA highlighted vital factors influencing these trends. Firstly, record harvests played its card as India harvested record crops of soybean and rape mustard in the kharif and rabi seasons, respectively. This led to increased crushing and higher availability for both domestic use and export.

Secondly, the market saw a soya meal export revival from November to April. Its soybean exports surged from 1.04 million tonnes in 2022-23 to 1.66 million tonnes in 2023-24. In contrast, rapeseed meal exports declined by nearly 23% during the same period. Ultimately, price fluctuations were also the contributor. India’s substantial export volumes last year were attributed to competitive pricing compared to other origins.

De-Oiled Ricebran Export Prohibition

India typically exports 0.5-0.6 mt of de-oiled rice bran, primarily to Vietnam, Thailand, and other Asian countries. However, on July 28, 2023, the government prohibited its export due to high fodder prices, given the de-oiled rice bran’s critical component role. This prohibition, initially set until March 31, 2024, was extended to July 31, 2024.The SEA official noted that de-oiled rice bran prices are currently low and expected to decrease further. It is because of the increased availability of distillers of dried grains with oils (DDGS). Consequently, SEA has appealed to the government to lift the prohibition after July 31, 2024.

The decline in rapeseed meal exports significantly impacted India’s overall oil meal export performance in April 2024. While soybean meal exports showed a positive trend, rapeseed meal exports faced challenges. The SEA emphasizes the need for strategic adjustments, particularly regarding the prohibition of de-oiled rice bran exports. The lifting of this ban could support India’s position as a reliable supplier in the international market. Therefore, it ensures stability and growth in the oil meal export sector.