India's Oilmeals Export Plummets Amid Decline in Sales Volume

India's oilmeals exports dropped by 21% to Rs 12,171 crore in the last fiscal year due to an 11% decrease in sales volume, as reported by the Solvent Extractors' Association of India. Bangladesh remained the largest importer, despite seeing a decline in imported quantities.

India's oilmeals export experienced a significant downturn, falling by 21% to Rs 12,171 crore in the last fiscal, as per the Solvent Extractors' Association of India (SEA). The decline is attributed to a substantial drop in sales volumes, which decreased by 11%.

The export figures for the 2024-25 fiscal year show a reduction to 43,42,498 tonnes of oilmeals, down from 48,85,437 tonnes in the previous year. Notable reductions in the export of both rapeseed meal and castorseed meal contributed to this decline.

Bangladesh, despite its political instability, emerged as the largest importer of Indian oilmeals, importing 7.42 lakh tonnes, a 17% decrease from the prior year. South Korea and Thailand followed as major importers, with substantial reductions in their imports as well.

(With inputs from agencies.)