India’s Oilmeal Export Landscape: Record Soyabean Yields Offset by Rapeseed Meal Decline

India’s oilmeal exports witnessed a 6% decline in April 2024, primarily due to lower shipments of rapeseed meal. Despite this, record soyabean yields in both kharif and rabi seasons bolstered export figures, showcasing a significant revival in soyabean exports. The government’s prohibition on de-oiled ricebran exports, aimed at stabilizing fodder prices, impacted the market dynamics, prompting appeals from industry stakeholders.

Highlights
Overall Oilmeal Exports Decline: Oilmeal exports experienced a 6% drop in April 2024 compared to the same period in 2023. This decline was primarily attributed to lower shipments of rapeseed meal.

Specific Export Figures: India exported 1.99 lakh tonnes of soyabean meal in April 2024, showing an increase from the previous year. However, exports of rapeseed meal decreased to 2.30 lakh tonnes in April 2024 from 2.46 lakh tonnes in April 2023.

Record Crop Yield: India witnessed a record crop yield of soyabean in the kharif season and rape-mustard in the rabi season. This resulted in higher crushing activities and increased availability of meal, both for domestic use and export.

Soyabean Export Revival: Despite the overall decline in oilmeal exports, there was a significant increase in soyabean exports from November to April. Soyabean exports surged from 10.4 lakh tonnes in Nov-Apr 2022-23 to 16.6 lakh tonnes in 2023-24.

Policy Impact on De-oiled Ricebran: The government’s decision to prohibit the export of de-oiled ricebran from July 28, 2023, until July 31, 2024, had a notable impact. This prohibition was due to high fodder prices, with de-oiled ricebran being a significant component.

Price Dynamics: De-oiled ricebran prices have fallen to lower levels, and they are expected to decrease further with increased availability of DDGS (Distiller’s Dried Grains with Solubles).

Appeal to Government: The Solvent Extractors’ Association of India (SEA) has appealed to the government not to extend the prohibition on the export of de-oiled ricebran beyond July 31, 2024, citing the sharp fall in prices and increased availability.

Conclusion
India’s oilmeal export sector faces a nuanced landscape, with contrasting trends in different subsectors. While soyabean exports show promising growth, challenges such as the decline in rapeseed meal shipments and government policies affecting de-oiled ricebran exports require careful consideration. Industry stakeholders, represented by the Solvent Extractors’ Association of India, continue to engage with policymakers to navigate these challenges and sustain the country’s position as a key player in the global oilmeal market.