India’s Soybean Trade Flips As Record Imports Loom And Exports Get Axed

India's soybean imports are projected to surge to a record 800,000 metric tons in 2025-26 as tight domestic supplies and strong local crush demand drive buyers to overseas markets, according to trade sources. At the same time, Indian traders have booked 80,000 tons from African origins for June-July and cancelled 25,000 tons of soymeal export contracts for the first time since 2021, signaling a sharp shift in trade flows.

India, traditionally reliant on domestic oilseed production and soymeal exports, is increasingly tapping the global market to bridge a supply gap and support its poultry and edible oil industries. The combination of higher imports and export cancellations underlines changing price dynamics and a recalibration of trade strategies by Indian crushers and traders.

Import Spike And Sourcing Shift

Projected soybean imports of up to 800,000 tons in 2025-26 point to lower domestic availability and relatively better import economics. The purchase of 80,000 tons from African countries for June-July delivery highlights a diversification of sourcing beyond the usual South American origins, as traders seek competitive prices and timely supplies.

Soymeal Exports Under Pressure

The cancellation of 25,000 tons of soymeal export contracts, a first since 2021, suggests that domestic demand and margins have turned more attractive than overseas sales. Higher local prices, volatile global markets and currency considerations are prompting Indian exporters to prioritize the home market, impacting traditional buyers of Indian soymeal in Asia.

Key Highlights

• India’s soybean imports may hit a record 800,000 metric tons in 2025-26
• Indian traders have bought about 80,000 tons of soybeans from African suppliers for June-July
• Around 25,000 tons of soymeal export contracts have been cancelled for the first time since 2021
• Shifts reflect tighter domestic supplies, better local crush margins and changing global price dynamics

Sources: Reuters, Yahoo Finance, Moneycontrol and The Economic Times