India’s soybean imports hit record high in May

India’s soybean imports rose 65% in May 2026 compared with the previous month, reaching a record level, according to industry data. The sharp increase was driven by domestic soybean prices climbing to a four-year high, prompting traders to source more supplies from abroad.

African countries emerged as the key suppliers, benefiting from the ability to sell soybeans at a significant premium to global benchmark prices. India imports only non-GMO soybeans, which limits its supplier base to a few African nations, including Benin, Niger, Togo, and Nigeria.

According to the Soybean Processors Association of India (SOPA), the country imported 200,000 tonnes of soybeans in May, up from 121,000 tonnes in April, while there were no imports a year earlier. Following the surge in purchases, SOPA raised its soybean import forecast for the 2025/26 marketing year to 900,000 tonnes, up from 600,000 tonnes previously.

Higher imports are expected to ease domestic soybean and soymeal prices, which are an important component of animal feed. India’s poultry sector, the largest consumer of soymeal, is likely to benefit from lower feed costs.

However, analysts note that the sharp rise in domestic prices has already disrupted traditional trade flows, with Indian traders cancelling soymeal export contracts and shifting toward soybean imports from Africa instead.

Tags: India, imports, soybean