India’s oilmeals export fell 21 per cent to Rs 12,171 crore last fiscal mainly due to decline in sales volumes by 11 per cent, according to data compiled by Solvent Extractors’ Association of India (SEA).
In a statement on Friday, edible oil industry body SEA said the total export of oilmeals in 2024-25 fiscal fell 11 per cent to 43,42,498 tonnes compared to 48,85,437 tonnes in the preceding year.
This was mainly due to reduction in export of rapeseed meal & castorseed meal, it added.
In terms of value, the exports decreased 21 per cent to Rs 12,171 crore in 2024-25 from Rs 15,368 crore in the preceding year, said B V Mehta, Executive Director of SEA.
Bangladesh in spite of political turbulences become a largest importer of Indian oilmeals. India exported 7.42 lakh tonnes to Bangladesh in 2024-25, down 17 per cent from 892,659 tonnes in the preceding year.
South Korea become the second largest importer of Indian oilmeals. India exported 6.99 lakh tonnes of oilmeals last fiscal, down 16 per cent from 2023-24 fiscal.
Thailand become the third largest importer of Indian oilmeals. It imported 4.48 lakh tonnes of oilmeals in 2024-25 fiscal, which is 25 per cent down from 632,734 tonnes in the preceding year.