India's Soybean Meal Exports Decline by 11% in 2024-25 Due to High Prices
India's soybean meal exports fell by 11% during the 2024-25 oil marketing year primarily because of higher prices compared to competitors like the US, Brazil, and Argentina. Top importers included Germany, France, Nepal, Bangladesh, and Kenya, accounting for 55% of total exports. The decline reflects shifting global demand patterns amid India's pricing challenges.
During the oil marketing year 2024-25 (October 2024 to September 2025), India's soybean meal exports dropped by 11%, reaching approximately 2.023 million tonnes, down from 2.275 million tonnes in the previous year. This decline was largely due to relatively high prices of Indian soybean meal compared to international competitors such as the United States, Brazil, and Argentina, which dampened global demand. The Soybean Processors Association of India (SOPA) highlighted that Germany, France, Nepal, Bangladesh, and Kenya were the leading importers, collectively importing about 55% of India's soybean meal exports during the period. Soybean meal, a protein-rich byproduct of soybean oil extraction, is extensively used in food products and animal feed. Despite India's overall growth in soybean product exports in recent years, the pricing issue is causing a temporary setback in international competitiveness. External factors such as production challenges and geopolitical considerations also influence market dynamics. The decline in exports indicates a need for India to address cost competitiveness to maintain and grow its position in the global soybean meal market.
