Indian soybean processors oppose imports of 3 mln tons of GM soybean meal

The Soybean Processors Association of India (SOPA) has opposed a proposal by the poultry industry to allow imports of 3 mln tons of genetically modified (GM) soybean meal and extend zero import duties to shipments from all African countries. According to processors, domestic stocks are sufficient to meet market demand, while opening the market to imports could negatively affect local soybean farmers and the processing industry.

On October 26, SOPA appealed to India’s Ministry of Commerce to reject the proposal submitted by the All India Poultry Breeders Association (AIPBA). Processors emphasized that additional imports could increase competition with domestically produced soybean meal and threaten the profitability of India’s soybean sector.

According to SOPA estimates, total domestic soybean meal supply stands at 8.172 mln tons, compared to projected consumption of 8 mln tons. As a result, ending stocks are expected to reach 172 thsd tons as of September 30, 2027. In addition, soybean stocks are estimated at 882 thsd tons, enough to produce approximately 700 thsd tons of additional soybean meal. The total available reserve, according to the association, approaches 900 thsd tons.

Meanwhile, poultry industry representatives insist that imports are necessary due to rising feed costs. According to AIPBA, soybean prices have increased by approximately 30% this season. However, SOPA considers the price increase temporary, driven mainly by market sentiment rather than a fundamental supply shortage.

Processors also stressed that the current price increase is the first significant rise in two years and could encourage Indian farmers to expand soybean planting next season. Conversely, allowing large-scale imports of GM soybean meal could put downward pressure on domestic prices and discourage farmers from increasing production, creating long-term risks for India’s soybean industry, according to SOPA.

Tags: India, soybean meal, GM, soybean