India's oilmeal exports fall 28.5% due to competition from Brazil and Argentina

India's oilmeal exports have recorded a decline of 28.51% during the April-August period of the current financial year. According to data released by the Solvent Extractors Association of India (SEA) on Monday, total exports during this period stood at 12.82 lakh tonnes, compared to 17.93 lakh tonnes in the same period last year. Total oilmeal exports in the 2025-26 financial year were recorded at 37.68 lakh tonnes.

The primary reason for this decline is the significant drop in soybean meal exports. Soybean meal exports fell from 7,57,000 tonnes last year to 2,05,000 tonnes, marking a 73% decline. In a statement, SEA noted, "During August 2026, there was heavy price pressure on Indian soybean meal in international markets, which was trading at approximately $622 per tonne, while the global benchmark was around $445 per tonne."

The association added that South American producers such as Argentina and Brazil are capturing a larger market share by providing cheaper supplies. Additionally, exports have been impacted by increased domestic demand from cattle and poultry feed producers, shipping disruptions in the Red Sea, and high marine insurance costs.

On the other hand, rapeseed meal exports provided some relief, with exports made to major Asian buyers such as China, Bangladesh, and Vietnam. Total rapeseed meal exports were 8,80,000 tonnes, compared to 9,15,000 tonnes last year. During this period, castorseed meal exports fell from 1,06,000 tonnes to 96,245 tonnes, while groundnut meal exports dropped from 14,960 tonnes to 3,231 tonnes.

According to SEA data, China, Bangladesh, South Korea, and Vietnam were the main importers during the April-August period. China purchased 4,01,000 tonnes (compared to 3,75,356 tonnes last year), which included 3,94,856 tonnes of rapeseed meal, 4,528 tonnes of soybean meal, and 1,616 tonnes of castorseed meal. Bangladesh imported 2,17,194 tonnes (compared to 1,78,190 tonnes last year), comprising 2,08,079 tonnes of rapeseed meal, 8,204 tonnes of soybean meal, and 911 tonnes of rice bran extraction.

South Korea purchased 1,53,932 tonnes, compared to 2,09,887 tonnes last year. This included 86,636 tonnes of rapeseed meal, 48,796 tonnes of castorseed meal, and 18,458 tonnes of soybean meal. Vietnam's imports increased to 1,23,951 tonnes from 92,189 tonnes, which included 65,510 tonnes of rice bran extraction, 53,580 tonnes of rapeseed meal, 4,600 tonnes of soybean meal, and 261 tonnes of groundnut meal. According to a report by Business Standard, all these figures have been released.