India's Soybean Meal Exports Take A Massive 73% Hit As Cheaper Global Supplies Dominate, Overall Oilmeal Shipments Plunge 28.51% Amid Rising Price Pressure

Mumbai: India's oilmeal exports declined 28.51% to 12.82 lakh tonnes during April–August FY27, as falling soybean meal shipments, high domestic prices and intense international competition weighed on overseas demand. According to the Solvent Extractors' Association of India (SEA), exports stood at 17.93 lakh tonnes during the corresponding period last year.

Soybean Slump

Soybean meal exports plunged 73% to 2.05 lakh tonnes from 7.57 lakh tonnes a year earlier. Indian soybean meal traded around $622 per tonne in August 2026, considerably higher than international benchmarks near $445 per tonne. Lower-priced supplies from Argentina and Brazil continued to attract international buyers, reducing India's competitiveness.

Export Challenges

Strong domestic demand from livestock and poultry feed manufacturers restricted export availability. Red Sea shipping disruptions and elevated maritime freight charges added further pressure on Indian exporters. These factors collectively weakened overseas shipments despite demand from Asian markets.

Rapeseed Support

Rapeseed meal exports provided partial support, although shipments declined to 8.80 lakh tonnes from 9.15 lakh tonnes. Castorseed meal exports slipped to 96,245 tonnes from 1.06 lakh tonnes. Groundnut meal shipments dropped sharply to 3,231 tonnes against 14,960 tonnes previously.

Asian Buyers

China remained the largest importer, purchasing 4.01 lakh tonnes of Indian oilmeals, compared with approximately 3.75 lakh tonnes last year. Bangladesh increased purchases to 2.17 lakh tonnes from 1.78 lakh tonnes. Vietnam's imports rose to 1.24 lakh tonnes from 92,189 tonnes. However, South Korea reduced purchases to 1.54 lakh tonnes from 2.10 lakh tonnes.

Trade Outlook

India exported 37.68 lakh tonnes of oilmeals during FY26. The latest figures highlight challenges facing soybean meal exporters as cheaper global supplies continue to influence trade. Future shipments will depend on international pricing, domestic feed demand and freight conditions. Improved competitiveness could help Indian exporters recover market share in key Asian destinations.

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