In the first seven months of the current financial year (April-October 2024), India exported a total of 4.21 lakh tonnes of castor oil, generating Rs 5,117 crore in revenue. According to the Solvent Extractors Association of India (SEA), export volumes peaked in April and May, with 72,801 tonnes and 89,786 tonnes shipped respectively, earning Rs 881.35 crore and Rs 1,066.24 crore. However, export figures began to decline from June onward.
Here’s a month-by-month breakdown of the export data for April-October 2024:
- April: 72,801 tonnes, worth Rs 881.35 crore
- May: 89,786 tonnes, worth Rs 1,066.24 crore
- June: 59,737 tonnes, worth Rs 694.93 crore
- July: 47,387 tonnes, worth Rs 596.32 crore
- August: 49,473 tonnes, worth Rs 607.55 crore
- September: 53,625 tonnes, worth Rs 668.96 crore
- October: 48,209 tonnes, worth Rs 601.65 crore
In comparison, during the same months in 2023, exports were as follows:
- April: 59,452 tonnes
- May: 60,557 tonnes
- June: 32,335 tonnes
- July: 67,393 tonnes
- August: 56,479 tonnes
- September: 49,717 tonnes
- October: 47,473 tonnes
For the entire financial year 2023-24, India exported 6.46 lakh tonnes of castor oil, earning Rs 8,005.12 crore.
The drop in exports since May 2024 reflects a slowdown, though there was some recovery in the latter months (August-October). The arrival of new castor seeds in Andhra Pradesh-Telangana has begun, with supplies expected to increase in Rajasthan from next month and in Gujarat from January-February.