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INDIA'S OILMEAL EXPORTS SEE SLUGGISH START TO 2024-25, DOWN 6% IN APRIL
The Business Guardian
|May 20, 2024
Soybean meal exports surged to 16.6 lakh tonnes, while rapeseed meal exports fell 23% to 9.3 lakh tonnes
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In April 2024, India's oilmeal exports declined by 6 percent year-on year to 4.65 lakh tonnes from 4.93 lakh tonnes in April 2023, according to data from the Solvent Extractors' Association of India (SEA). Despite the overall decline, soybean meal exports saw an increase, while mustard meal exports decreased.
Oilmeals, the by products of oil extraction from oilseeds, are crucial components of livestock feed globally. The SEA highlighted that India had a record soybean harvest during the Kharif season and a robust mustard crop during the Rabi season last year. This abundance facilitated higher crushing volumes, thereby increasing the availability of meals for both domestic consumption and export.
The first six months of the marketing year (November April) showcased a significant revival in soybean meal exports, which surged from 10.4 lakh tonnes to 16.6 lakh tonnes. However, rapeseed meal exports fell by nearly 23 percent to 9.3 lakh tonnes.
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