India’s oilmeal exports decline amid global trade challenges

New Delhi [India], June 18 (ANI): India’s oilmeal exports showed a significant decline of 17 per cent in the the first two months of the financial year 2024-25, indicating broader issues in the agricultural trade sector. This decline has been primarily attributed to a drop in the export of key products such as rapeseed meal and castorseed meal. In May 2024 alone, oilmeal export volumes were reported at 302,280 tons, a sharp decline of 31 per cent from 436,597 tons in May 2023. One of the main reasons for this decrease is the reduced demand for Indian oilmeals from major importers such as South Korea, Thailand, Vietnam, and Bangladesh. South Korea imported 166,583 tons of oilmeals, down from 189,705 tons the previous year. Vietnam’s imports saw a drop from 142,285 tons to just 32,699 tons, while Thailand’s intake fell from 152,053 tons to 57,390 tons. Bangladesh imported 139,006 tons, compared to 193,606 tons during the same period last year. The most notable drop has been in ...