Soybean Imports Surge to 7.77 Lakh Tonnes in 2025-26 as Domestic Supplies Fall Short
India's soybean imports have jumped to 7.77 lakh tonnes through June-end in oil year 2025-26 — from a mere 2,000 tonnes a year ago — as tight domestic supplies squeeze processors and push soymeal exports sharply lower.
The short answer
India imported 7.77 lakh tonnes of soybean in the first nine months of oil year 2025-26 (October–June), a near-total reversal from just 2,000 tonnes in the same period last season, driven by a significant shortfall in domestic crop arrivals. The Soybean Processors Association of India (SOPA) now projects full-year imports at 9 lakh tonnes. Soymeal exports are expected to more than halve to 10 lakh tonnes this season, against 20.23 lakh tonnes last year, as higher domestic prices erode India's competitiveness in global meal markets.
The supply crunch
Domestic Arrivals Lag, Imports Fill the Gap
India's soybean sector is navigating an acute supply deficit in oil year 2025-26 (October–September). Of the season's estimated production of 110.26 lakh tonnes, only about 77.5 lakh tonnes had arrived at market by the end of June — well below the 89 lakh tonnes recorded at the same point last year, according to SOPA's latest supply-demand data.
To compensate, processors turned aggressively to overseas supplies. Soybean imports touched 7.77 lakh tonnes through June-end, a dramatic reversal from just 2,000 tonnes imported during the same nine-month window in 2024-25. SOPA now projects total imports for the full oil year at 9 lakh tonnes, underscoring that domestic production alone cannot meet current processing demand.
Meal markets
Soymeal Exports Set to Halve as Prices Stay Elevated
The supply squeeze is reverberating through India's soymeal export trade. Higher domestic soybean prices have made Indian meal less competitive globally, and SOPA has revised its full-year soymeal export forecast downward to 10 lakh tonnes — first from 11 lakh tonnes and now further trimmed — compared with 20.23 lakh tonnes shipped last season.
Data for October–June already reflects this trajectory: soymeal exports stood at 9.02 lakh tonnes, less than 58% of the 15.60 lakh tonnes exported in the corresponding period of 2024-25. Soymeal production during the same stretch was also lower at 64.31 lakh tonnes, against 68.65 lakh tonnes a year earlier. Meal stocks at end-June were 1.27 lakh tonnes.
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.
Domestic demand
Feed and Food Sectors Absorb More as Export Volumes Slide
Even as exports contract, domestic soymeal consumption is holding up — and in some segments, growing. SOPA has revised its full-year domestic consumption forecasts upward:
- Food segment: 9 lakh tonnes (revised up from 8 lakh tonnes; last season: 8 lakh tonnes)
- Feed segment: 63 lakh tonnes (revised up from 62 lakh tonnes; last season: 62 lakh tonnes)
October–June actuals already show this trend. Food-use consumption was 6.7 lakh tonnes versus 6.15 lakh tonnes a year ago, while the feed sector consumed 48 lakh tonnes, edging past last year's 47 lakh tonnes. The domestic market is effectively absorbing meal that would otherwise have been exported, providing some floor to the processing industry even as its export earnings fall.
SOPA's outlook
Trade Body Revises Forecasts, Eyes Full-Year Picture
SOPA's Executive Director D N Pathak confirmed the revision in a statement released on July 13, 2026, noting that the association had cut its soymeal export projection to 10 lakh tonnes from 11 lakh tonnes and simultaneously raised domestic consumption estimates for both the food and feed segments.
The organisation now estimates 9 lakh tonnes of soybean imports for the full 2025-26 oil year — a figure that would have been considered extraordinary just twelve months ago when India was virtually self-sufficient in oilseeds. For the trade, the critical question heading into the new kharif harvest is whether domestic soybean production recovers sufficiently to reduce import dependence and restore India's competitiveness as a soymeal exporter.
Why it matters
The dramatic swing from near-zero to 7.77 lakh tonnes of soybean imports within a single oil year signals a structural supply stress that processors, oilseed traders, and feed manufacturers cannot ignore. With soymeal exports projected to halve, India risks ceding hard-won market share in global protein meal trade. Policymakers should watch whether import dependence becomes entrenched, and whether domestic soybean acreage in the upcoming kharif season responds to price signals. Feed sector demand holding firm — and actually rising to 63 lakh tonnes — means any further supply tightness will have direct consequences for poultry and aquaculture value chains.
Frequently asked
- Why have India's soybean imports risen so sharply in 2025-26?
- A shortfall in domestic soybean arrivals — 77.5 lakh tonnes through June against 89 lakh tonnes a year earlier — has forced processors to rely on overseas supplies. SOPA estimates total imports for the full 2025-26 oil year at 9 lakh tonnes, compared with just 2,000 tonnes imported in the same period of the previous season.
- What is SOPA's forecast for soymeal exports in 2025-26?
- SOPA projects soymeal exports at 10 lakh tonnes for the full oil year 2025-26, down sharply from 20.23 lakh tonnes exported last season. The association recently revised this forecast downward from an earlier estimate of 11 lakh tonnes, citing higher domestic prices that are reducing India's competitiveness in global meal markets.
- How is domestic soymeal consumption trending in 2025-26?
- Domestic soymeal demand is rising. SOPA has revised full-year food-segment consumption to 9 lakh tonnes (up from 8 lakh tonnes) and feed-sector consumption to 63 lakh tonnes (up from 62 lakh tonnes). October–June actuals show food use at 6.7 lakh tonnes and feed use at 48 lakh tonnes, both ahead of last year's levels.
- What was soymeal production in India during October–June of 2025-26?
- Soymeal production during October–June of the 2025-26 oil year stood at 64.31 lakh tonnes, lower than the 68.65 lakh tonnes produced in the same period of the previous season, reflecting the tighter availability of domestic soybean for crushing.
Source
This report summarises and analyses coverage from The Hindu BusinessLine — Agri Business. The analysis and India context are IndianAgri's own.