Soybean imports into India have surged to 7.77 lakh tonnes by the end of June in the current oil year 2025-26 (October-September), up manifold from just 2,000 tonnes in the same period last year, according to the Soybean Processors Association of India (SOPA). The sharp increase is attributed to a shortfall in domestic supplies, as per SOPA's latest supply and demand data.
Surge in Soybean Imports
SOPA estimates that total soybean imports during the full 2025-26 oil year will reach 9 lakh tonnes, a substantial jump from the previous season. The data shows that about 77.5 lakh tonnes of the total production of 110.26 lakh tonnes have arrived in the market so far, lower than 89 lakh tonnes a year ago. This reduced market arrival underscores the domestic supply shortfall driving import demand.
Soybean Meal Exports and Domestic Demand
Exports of soybean meal have slowed markedly. Soymeal production during October-June was 64.31 lakh tonnes, compared to 68.65 lakh tonnes in the same period last year. Exports of soymeal stood at 9.02 lakh tonnes (versus 15.60 lakh tonnes a year ago), while domestic consumption for food was 6.7 lakh tonnes (6.15 lakh tonnes). Consumption by the feed segment was higher at 48 lakh tonnes (47 lakh tonnes). Meal stocks at the end of June were 1.27 lakh tonnes.
| Metric | Current Oil Year (Oct-Jun 2025-26) | Previous Year (Oct-Jun 2024-25) |
|---|---|---|
| Soybean imports (till June) | 7.77 lakh tonnes | 2,000 tonnes |
| Soybean production | 110.26 lakh tonnes | – |
| Market arrivals (till June) | 77.5 lakh tonnes | 89 lakh tonnes |
| Soymeal production | 64.31 lakh tonnes | 68.65 lakh tonnes |
| Soymeal exports | 9.02 lakh tonnes | 15.60 lakh tonnes |
| Domestic food consumption | 6.7 lakh tonnes | 6.15 lakh tonnes |
| Feed consumption | 48 lakh tonnes | 47 lakh tonnes |
Revised Outlook for Full Oil Year
SOPA has revised its projections for the full 2025-26 oil year. D N Pathak, Executive Director of SOPA, stated: “We have revised the soybean meal exports downward to 10 lakh tonnes from 11 lakh tonnes earlier and also increased the domestic consumption of soybean meal in food and feed to 9 lakh tonnes and 63 lakh tonnes, respectively, from earlier 8 lakh and 62 lakh tonnes.” The export of soybean meal for the oil year is now projected at 10 lakh tonnes (down from 20.23 lakh tonnes last season), while domestic offtake by the food segment is expected to be 9 lakh tonnes (8 lakh tonnes last year) and the feed sector at 63 lakh tonnes (62 lakh tonnes last year).
Implications for Traders and Analysts
The dramatic rise in soybean imports and the sharp drop in soy meal exports signal a tightening domestic supply-demand balance. For commodity traders and procurement teams, the higher import volumes highlight increased reliance on overseas origins, which may pressure global soybean prices. Meanwhile, the reduction in meal exports suggests that Indian processors are diverting supplies to the domestic market, where higher prices are prevailing. Market participants should monitor SOPA's monthly data releases for further shifts in arrivals and consumption trends.
Sources:
