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The soyabean imports stood at 0.02 lakh tonnes during the October-March period of the oil year 2024-25
| Photo Credit:
SHASHI SHEKHAR KASHYAP
Soyabean imports into the country are likely to see a major decline in the oil year 2024-25 on muted demand. Based on the trend so far, the Soyabean Oil Processors Association (SOPA) has reduced the projected imports to 1 lakh tonnes during the 2024-25 oil year, down from 6.25 lakh tonnes in the previous year.
According to the latest supply demand report issued by SOPA, the soyabean imports stood at 0.02 lakh tonnes during the October-March period of the oil year 2024-25 compared with 5.06 lakh tonnes a year ago.
Market arrivals
“Looking at the soyabean import pattern, we have reduced the import of soyabean from 3 lakh tonnes to 1 lakh tonnes for the 2024-2025 oil year,” said D N Pathak, Executive Director, SOPA in a statement. Earlier, SOPA projected soyabean import of 3 lakh tonnes. India allows the import of only non-genetically modified (non-GM) soyabean.
The market arrivals during October-March period of the oil year were lower at 72 lakh tonnes (77 lakh tonnes in the same period last year). The crushing also has been lower during this period at 60.50 lakh tonnes (67.50 lakh tonnes). SOPA estimates that the stocks with the plants, trades and farmers are estimated at 38.51 lakh tonnes and another 20 lakh tonnes with the government agencies such as NAFED and NCCF.
Production of soyameal stood lower at 47.74 lakh tonnes (53.26 lakh tonnes). The domestic food sector offtake was seen flat at 4.35 lakh tonnes, while the feed sector demand was lower at 32.50 lakh tonnes (35 lakh tonnes) during this period. Exports of soyameal were down by around 17 per cent at 11.12 lakh tonnes during the October-March period of the oil year 2024-25 from corresponding previous year’s 13.47 lakh tonnes.
Germany and France were the largest buyers of Indian soyameal during this oil year at over 1.53 lakh tonnes and 1.44 lakh tonnes respectively.
Nepal was the third largest buyer with volumes of 1.16 lakh tonnes and Bangladesh 1.08 lakh tonnes.
Published on April 11, 2025
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