India’s oilmeal exports fall 28.5% as cheaper Brazilian, Argentine soymeal squeezes shipments

India's oilmeal exports declined 28.51% year-on-year to 12.82 lakh tonnes in April-August of the current fiscal year, hit by a steep fall in soybean meal shipments as cheaper supplies from Brazil and Argentina eroded the country's competitiveness in international markets, industry body Solvent Extractors' Association of India (SEA) said on Monday.

Oilmeal exports stood at 17.93 lakh tonnes in the corresponding period last fiscal year. Total shipments for the full 2025-26 fiscal year were 37.68 lakh tonnes, according to SEA data.

Soybean meal exports plunged 73% to 2.05 lakh tonnes during April-August, from 7.57 lakh tonnes a year earlier.

"Indian soybean meal has faced severe pricing pressure in international markets during August 2026, trading around USD 622 per tonne compared to global benchmarks near USD 445 per tonne," the SEA said in a statement.

The association attributed the decline to intense competition from South American producers, particularly Argentina and Brazil, whose cheaper supplies have captured a larger share of the global market.

Domestic demand, shipping disruptions weigh on exports

Strong domestic demand from livestock and poultry feed manufacturers also limited the availability of oilmeals for exports, while disruptions in Red Sea shipping routes and elevated maritime freight costs further constrained overseas shipments, the SEA said.

Rapeseed meal exports offered some support, with shipments declining only marginally to 8.8 lakh tonnes from 9.15 lakh tonnes in the year-ago period. China, Bangladesh and Vietnam remained among the key Asian destinations for the commodity.

Castorseed meal exports fell to 96,245 tonnes from 1.06 lakh tonnes, while groundnut meal shipments dropped sharply to 3,231 tonnes from 14,960 tonnes.

China, Bangladesh lead Indian oilmeal imports

China, Bangladesh, South Korea and Vietnam were the largest importers of Indian oilmeals during the five-month period, SEA data showed.

China imported 4.01 lakh tonnes, up from 3.75 lakh tonnes a year earlier. Rapeseed meal accounted for the bulk of its purchases at 3,94,856 tonnes, followed by 4,528 tonnes of soybean meal and 1,616 tonnes of castor meal.

Bangladesh's imports rose to 2,17,194 tonnes from 1,78,190 tonnes. These included 2,08,079 tonnes of rapeseed meal, 8,204 tonnes of soybean meal and 911 tonnes of rice bran extraction.

South Korea's purchases declined to 1,53,932 tonnes from 2,09,887 tonnes. Its imports comprised 86,636 tonnes of rapeseed meal, 48,796 tonnes of castor meal and 18,458 tonnes of soybean meal.

Vietnam's imports increased to 1,23,951 tonnes from 92,189 tonnes. These 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.

(With inputs from PTI)