India's oilmeals export drops 21% in FY25 as volumes decline

India’s export of oil meals saw a sharp decline of 21 per cent in value in the 2024-25 financial year, falling to Rs 12,171 crore from Rs 15,368 crore in FY24, the solvent extractors’ association of India (SEA) reported.

The authority said on Friday that the drop was due to an 11 per cent fall in export volumes, down to 43.42 lakh tonnes from 48.85 lakh tonnes the previous year.

The slump was primarily due to reduced shipments of rapeseed meal and castorseed meal.

The overall performance was affected by lower demand and reduced offtake in major importing countries. Particularly, rapeseed and castorseed meals saw a notable drop in export volumes,” said B V Mehta, executive director of SEA.

Despite ongoing political turbulence, Bangladesh emerged as the top importer of Indian oilmeals, purchasing 7.42 lakh tonnes in FY25, though that too marked a 17 per cent fall from 8.92 lakh tonnes the year before.

South Korea ranked second, importing 6.99 lakh tonnes, a 16 per cent dip compared to the previous year. Thailand followed, with oilmeal imports falling by 25 per cent to 4.48 lakh tonnes in FY25.

The SEA noted that while India continues to play a key role in the global oilmeals market, evolving demand patterns and regional disruptions have weighed heavily on export figures this year.