India’s Soybean Meal Exports Dip 11% in 2024–25 as High Prices Hit Global Demand

Germany, France, Nepal, Bangladesh, and Kenya account for over half of total shipments

By PTI | Updated: October 30, 2025 | Indore

    India’s soybean meal exports declined by 11% during the 2024–25 oil marketing year (October 2024–September 2025), as higher domestic prices made Indian produce less competitive in global markets, according to the Soybean Processors Association of India (SOPA).

The country exported 20.23 lakh tonnes (2.023 million tonnes) of soybean meal during the year, compared with 22.75 lakh tonnes (2.275 million tonnes) in 2023–24, SOPA said in its latest data release on Wednesday.

Export Markets and Trends

Germany, France, Nepal, Bangladesh, and Kenya remained India’s top five export destinations, together accounting for about 55% of total shipments during the year.

However, buyers in other regions reportedly shifted to cheaper alternatives from major producers such as Brazil, Argentina, and the United States, where soybean meal prices remained more competitive.

Price Gap Narrows India’s Edge

“Indian soybean meal prices continue to stay elevated compared to international benchmarks,” said D.N. Pathak, Executive Director of SOPA. “This has reduced our price advantage and consequently lowered export demand.”

Soybean meal, a byproduct derived after soybean oil extraction, is widely used as a protein-rich ingredient in animal feed, poultry feed, and aquaculture. It is also processed further for human consumption in products like soy flour and soy chunks.

Outlook

Analysts say export recovery will depend on price corrections and better domestic processing margins, alongside stable production trends in key soybean-growing states like Madhya Pradesh, Maharashtra, and Rajasthan.

The global market, currently dominated by Latin American suppliers, continues to exert pressure on Indian exporters to align costs and logistics efficiencies if they aim to regain share in the coming oil year.