India's Oilmeal Exports Decline 28.51% Amid Weak Soybean Meal Competitiveness by Amit Gupta, Kedia Advisory
India's oilmeal exports declined 28.51% year-on-year to 12.82 lakh tonnes during April-August 2026, compared with 17.93 lakh tonnes a year earlier, according to the Solvent Extractors' Association of India (SEA). Soybean meal shipments plunged 73% to 2.05 lakh tonnes as Indian supplies traded at $622 per tonne against global benchmarks near $445, making them less competitive than Argentine and Brazilian offerings. Strong domestic feed demand, higher freight costs and Red Sea shipping disruptions further restricted exports. Rapeseed meal shipments remained relatively resilient, while China, Bangladesh, South Korea and Vietnam continued as major destinations for Indian oilmeals.
Key Highlights
• India's total oilmeal exports declined 28.51% year-on-year to 12.82 lakh tonnes during April-August 2026.
• Soybean meal exports plunged 73% to 2.05 lakh tonnes from 7.57 lakh tonnes.
• Indian soybean meal traded at $622 per tonne against global benchmarks near $445 per tonne.
• Rapeseed meal exports declined marginally to 8.80 lakh tonnes from 9.15 lakh tonnes.
• China imported 4.01 lakh tonnes, while Bangladesh and Vietnam increased their purchases of Indian oilmeals.
India's oilmeal exports declined 28.51% year-on-year to 12.82 lakh tonnes during April-August 2026, compared with 17.93 lakh tonnes in the corresponding period last year, according to the Solvent Extractors' Association of India (SEA). The decline was primarily driven by a sharp contraction in soybean meal shipments, which fell 73% to 2.05 lakh tonnes from 7.57 lakh tonnes. India's total oilmeal exports during the 2025-26 fiscal year stood at 37.68 lakh tonnes.
Indian soybean meal faced significant pricing pressure in international markets, trading at around $622 per tonne in August compared with global benchmarks near $445 per tonne. This price disadvantage encouraged international buyers to shift towards cheaper supplies from Argentina and Brazil. Additionally, strong domestic consumption by livestock and poultry feed manufacturers restricted exportable availability, while higher maritime freight costs and Red Sea shipping disruptions further affected overseas shipments.
Among other oilmeals, rapeseed meal exports declined marginally to 8.80 lakh tonnes from 9.15 lakh tonnes a year earlier. Castorseed meal shipments fell to 96,245 tonnes from 1.06 lakh tonnes, while groundnut meal exports dropped sharply to 3,231 tonnes from 14,960 tonnes.
Destination-wise, China remained the largest buyer, importing 4.01 lakh tonnes compared with 3.75 lakh tonnes in the year-ago period. Bangladesh's purchases increased to 2.17 lakh tonnes from 1.78 lakh tonnes, while Vietnam's imports rose to 1.24 lakh tonnes from 92,189 tonnes. In contrast, South Korea reduced its purchases to 1.54 lakh tonnes from 2.10 lakh tonnes. Rapeseed meal accounted for a significant share of shipments to China and Bangladesh, while rice bran extraction contributed substantially to Vietnam's imports.
India's oilmeal exports face continued pressure from international price disadvantages, domestic feed consumption and shipping costs, with soybean meal competitiveness remaining a key concern.
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