Oilmeal exports from India dropped by 6% in April 2024, primarily due to reduced rapeseed meal shipments. Soyabean meal exports, however, saw a significant increase. India’s record harvest of soyabean and rape-mustard led to higher crushing and meal availability. The SEA has appealed to the government to lift the ban on de-oiled ricebran exports beyond July 31, 2024.
Summary
Overall Export Decline: Oilmeal exports fell by 6% in April 2024, from 4.93 lakh tonnes in April 2023 to 4.65 lakh tonnes.
Rapeseed Meal Drop: The decline in exports was primarily due to reduced shipments of rapeseed meal, which decreased from 2.46 lakh tonnes to 2.30 lakh tonnes.
Soyabean Meal Increase: Soyabean meal exports increased from 1.77 lakh tonnes in April 2023 to 1.99 lakh tonnes in April 2024.
Castorseed Meal Increase: Castorseed meal exports also rose from 29,477 tonnes to 34,387 tonnes.
Record Crop Harvest: India harvested record crops of soyabean (kharif season) and rape-mustard (rabi season), leading to higher crushing and increased meal availability for both domestic use and export.
Soyabean Export Revival: From November to April 2023-24, soyabean meal exports surged from 10.4 lakh tonnes to 16.6 lakh tonnes.
Rapeseed Meal Export Decline: During the same period, rapeseed meal exports fell by nearly 23%.
De-Oiled Ricebran Export Ban: The Indian government banned de-oiled ricebran exports starting July 28, 2023, due to high fodder prices. This ban is in effect until July 31, 2024.
Appeal to Lift Ban: With the current low prices and increased availability of DDGS, the Solvent Extractors’ Association of India (SEA) has appealed to the government not to extend the ban on de-oiled ricebran exports beyond July 31, 2024.
Conclusion
The decline in rapeseed meal exports significantly impacted overall oilmeal exports in April 2024, despite a rise in soyabean and castorseed meal exports. India’s record soyabean and rape-mustard harvests have boosted meal availability, yet the market dynamics remain complex due to regulatory actions like the de-oiled ricebran export ban. As prices for de-oiled ricebran fall and DDGS availability increases, lifting the ban could stabilize the market and enhance India’s position as a reliable supplier. The SEA’s appeal to the government highlights the need for adaptive policy measures to sustain export growth.