Oilmeals export declines by 9% in Q1 FY 2034-25; June exports down by 20%: Report

The export of oilmeals, a by product of oilseeds processing to extract cooking oils, has declined by 9% in the first quarter of 2034-25 fiscal, while it is down by 20% in June, shows data compiled by industry body Solvent Extractors’ Association of India (SEA).

"The overall export of oilmeals during April to June 2024 reported at 1,102,632 tonnes as compared to 1,210,045 tonnes during the same period of last year, which is down by 9%, mainly due to reduction in export of rapeseed meal, castorseed meal and no export of De-oiled Rice Bran since September 2023 due to export prohibition," said SEA in a statement.

The export of oilmeals for the month of June, 2024 is provisionally reported at 335,196 tonnes compared to 280,001 tons in June 2023, down by 20%, shows SEA data.


According to SEA, the De-oiled Ricebran prices are at the lower level and are likely to go down further with increased availability of Dried Distillers' Grain Solubles (DDGS).

"In view of the above facts and sharp fall in prices of De-oiled Ricebran, SEA has once again appealed to the Government to not to extend the prohibition beyond July 31, 2024," said the statement.

Currently soybean meal Ex-Rotterdam being quoted at US$ 423 per tonne while Ex-Kandla being quoted at US$495 per tonne makes the Indian soybean meal expensive in international market. Excessive production of soybean meal putting downward pressure on oilmeals prices. Similarly the spread between rapeseed meal Ex-Hamburg quoted at US$ 303, while Indian variety of rapeseed meal quoted at US$ 287.

South Korea, Thailand, Vietnam and Bangladesh are the major importer of Indian oilmeals. "Iran has turned out to be largest importer of Soybean meal from India (including shipment via Dubai) and imported 114,475 tons of soybean meal," said SEA.