Export of Oilmeals – April '24 to January '25 – Down by 9%

18-Feb-2025 04:26 PM

Export of Oilmeals – April '24 to January '25 – Down by 9%
★ The Solvent Extractors’ Association of India has compiled export data for oilmeals for January 2025, reporting 4,52,352 tons, compared to 4,77,580 tons in January 2024, marking a 5% decline.
★ During the period from April 2024 to January 2025, total oilmeal exports stood at 36,03,030 tons, down 9% from 39,74,351 tons in the same period last year. This decline is primarily due to a reduction in the export of rapeseed meal and castorseed meal.
Increase in Soyameal Exports
★ In the current year (April '24 to January '25), soyameal exports increased to 1.771 million tons, compared to 1.586 million tons in the same period last year. This growth was driven by higher imports from European countries like Germany and France.
★ However, in the Oil year (October '24 to January '25), soyameal exports were 0.862 million tons, down 14% from 0.998 million tons in the previous year.
Impact on Domestic Market Demand
★ Increased production and supply of DDGS (Distillers Dried Grains with Solubles) from maize and other grains have dampened domestic demand for oilmeals.  
★ Uncertainty in Bangladesh, a major market for rapeseed meal, has led to a decline in exports over the past few months.
Government Procurement of Soybean
★ As of February 11, the government has procured 1.473 million tons of soybean at MSP of Rs.4,892 per quintal:
 - Maharashtra – 0.836 million tons
 - Madhya Pradesh– 0.388 million tons
 - Rajasthan– 0.099 million tons
★ According to the first advance estimates released in November, the government expects soybean production for 2024-25 to be 13.36 million tons, up from 13.06 million tons in the previous year.
★ Meanwhile, SOPA (Soybean Processors Association of India) has estimated a lower crop size of 12.582 million tons for 2024-25.