India’s oilmeal exports declined 36 per cent year-on-year in August 2026, as high domestic prices, cheaper South American supplies and elevated maritime freight costs weakened the country’s competitiveness in international markets.
According to data compiled by the Solvent Extractors’ Association of India (SEA), India exported 1.76 lakh tonnes (lt) of oilmeals in August 2026, compared with 2.76 lt in August 2025.
Cumulative exports during April–August 2026-27 fell 28.5 per cent to 12.82 lt, against 17.93 lt in the corresponding period of the previous financial year.
BV Mehta, Executive Director of SEA, said Indian soybean meal faced significant pricing pressure in international markets, trading at around $622 per tonne in August against global benchmarks of approximately $445 per tonne.
Cheaper South American Supplies Impact Exports
Competitive supplies from Argentina and Brazil continued to capture a larger share of international markets. Strong domestic demand from livestock and poultry feed manufacturers, persistent Red Sea shipping disruptions and elevated maritime freight costs further constrained Indian exports.
Soybean meal shipments recorded the sharpest decline, plunging 73 per cent to 2.05 lt during April–August 2026-27, compared with 7.57 lt in the same period last year.
Mehta noted that the Soybean Processors Association of India (SOPA) has estimated the current kharif soybean crop at 108 lt, although some trade participants believe actual production could be lower. Expectations of tighter supplies have contributed to a recent increase in domestic soybean and meal prices.
Meanwhile, rapeseed meal exports provided some support, with shipments reaching 8.80 lt during the first five months of FY2026-27, compared with 9.15 lt in the corresponding period last year.
China, Bangladesh, South Korea and Vietnam Lead Imports
China emerged as the largest destination for Indian oilmeals during April–August 2026-27, importing 4.01 lt against 3.75 lt a year earlier. Rapeseed meal accounted for the bulk of shipments at 3.94 lt.
Bangladesh imported 2.17 lt, up from 1.78 lt in the corresponding period of the previous year. Its imports primarily comprised 2.08 lt of rapeseed meal.
South Korea imported 1.53 lt, compared with 2.09 lt a year earlier, while Vietnam increased its imports to 1.23 lt from 92,189 tonnes.
The latest export figures highlight the growing challenges facing India’s oilmeal trade, particularly soybean meal, amid intense international price competition, strong domestic demand and higher shipping costs.