Sharp Drop in Soymeal Exports Likely Due to High Offer Prices

20-May-2026 12:44 PM

Mumbai: A surge in domestic soybean prices has significantly increased the production costs of soybean oil and soymeal. As a result, the average unit export offer price of Indian soymeal has reached a very high level, making it less competitive compared to other exporting countries such as Argentina, Brazil, and the United States.

According to industry analysts, over the past month, the price of Indian soymeal has risen sharply by around 47%, weakening its demand in the global market. Consequently, compared to last year, soymeal exports this year are likely to fall by about half, potentially reaching the lowest level in the past four years.

South Asian and Southeast Asian countries have traditionally been major buyers of Indian soymeal. However, this year, they are giving priority to imports from the United States and Latin American countries. Industry analysts note that Indian soymeal prices are significantly higher than those from other suppliers, and oil millers and exporters have stopped receiving new orders.

For June delivery, the Free on Board (FOB) export offer price of Indian soybeans has surged to around $680 per ton, while in other exporting countries, prices remain around $430 per ton. In 2024–25, India exported 2.02 million tons of soymeal, but in 2025–26, exports may be limited to around 0.7 million tons.