India's Oilmeal Exports Plummet 40% Amid Soy Decline

India's oilmeal exports have fallen significantly, with a 40% decrease recorded in December. This decline is largely attributed to a substantial drop in soyabean meal shipments, which plunged to 1.14 lakh tonnes from 2.78 lakh tonnes a year prior. Rapeseed meal and castorseed meal exports also showed a downward trend.

Despite the overall slump, rice bran extraction exports experienced a dramatic surge, increasing from just 70 tonnes to 31,237 tonnes within the same December period. For the cumulative April-December period, total oilmeal exports were down by 6% year-on-year.

Factors such as weakening price competitiveness for soyabean meal and a preference for cheaper alternatives by livestock feed makers have impacted demand. Conversely, India's rapeseed meal exports to China have risen sharply, with several Indian companies gaining approval for shipments.