Castor Oil Export From India 2026 Market Overview & Trends

Unlocking Opportunities in Castor Oil Export From India Market: Trends, Strategies, and Growth Insights

$1.0 b

Market Size

701.6 m Kg

Export Volume

Singapore

Key Trading Partner

~6.86%

Market Growth Rate

Castor Oil in India Trade

AI Insight

India’s castor oil exports exhibit a robust trajectory, achieving a 6.86% growth rate and reaching $1.04 billion in 2024. While values peaked in 2022, the 2024 recovery signifies market resilience and steady quantity increases. China dominates as the primary destination ($503M), while Singapore and Thailand emerge as high-growth markets with 30.6% and 16.6% increases respectively. The sector maintains strong momentum, driven by consistent demand from traditional hubs alongside rapidly expanding Asian markets, reflecting a healthy global trade dynamic.

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5-Year Export Volume

AI Insight

India's export value for castor oil shows a strong recovery in 2024, reaching $1.04 billion. While values peaked in 2022 at $1.09 billion, the 2024 data indicates a steady upward trend in quantity, reaching over 701 million units. This suggests resilient global demand despite slight fluctuations in market value over the five-year period.

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Top 5 Destination Countries

China

60.42%

Netherlands

14.19%

United States

12.58%

France

9.23%

Thailand

3.58%

AI Insight

In 2024, China remains the dominant importer of Indian castor oil, with an import value of $503.7 million. The Netherlands and the United States follow as key secondary markets, contributing $118.3 million and $104.8 million respectively. These top destinations represent the core revenue streams for the sector.

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Export Growth Analysis

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6.9%Annual Growth

AI Insight

The sector demonstrates a healthy growth rate of 6.86%. This positive trajectory indicates sustained global demand and strengthening market positioning for exporters. Consistent expansion highlights the industry's stability and potential for continued trade development in the near term.

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Emerging Market Opportunities

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Singapore leads emerging market growth with a significant 30.6% increase in 2024, followed by Thailand at 16.6%. The United States also shows solid growth at 8.5%. These figures highlight diversifying demand across Asia and North America, offering strategic opportunities for expansion.

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Sector-Related Export Opportunities

AI Insight

Under HS Code 151530, castor oil exports reached a total value of $1.04 billion in 2024. As the primary product in this category, it maintains a critical role in the export portfolio. This concentration of value underscores its importance to the overall trade balance.

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India Castor Oil Export Requirements

Before Shipment

1. Valid IEC registration. 2. FSSAI License for food or pharma grade oil. 3. Quality Analysis Report from an accredited laboratory. 4. Phytosanitary Certificate for specific destination markets. 5. RCMC from Shellac & Forest Products Export Promotion Council (Shefexil).

Documentation Required

1. Commercial Invoice. 2. Packing List. 3. Bill of Lading. 4. Certificate of Origin (COO). 5. Certificate of Analysis (CoA) to verify purity and grade specifications.

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Castor Oil Exports and Free Trade Agreements from India

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South Asian Free Trade Area (SAFTA)
India-ASEAN Comprehensive Economic Cooperation Agreement (CECA)
India-Korea Comprehensive Economic Partnership Agreement (CEPA)
India-Japan Comprehensive Economic Partnership Agreement (CEPA)
India-UAE Comprehensive Economic Partnership Agreement (CEPA)

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