India's March soybean meal exports fall 63% to 60,000 tons
India's soybean meal exports dropped by nearly 63% in March, down to just 60,000 tons.
This sharp fall is mainly due to higher prices at home and trade disruptions from the ongoing West Asia conflict involving US and Israeli attacks on Iran.
Last year, India exported much more, 162,000 tons in March, but now trade with countries like Iran and the UAE has slowed.
India's domestic use hits 600,000 tons
Even with exports way down, Indian demand for soybean meal actually grew—domestic use jumped from 500,000 tons last year to 600,000 tons this March.
According to SOPA's D N Pathak, Indian soybean meal costs more than what's available from the US or Brazil, but domestic demand remained strong.
The animal feed industry is supporting this steady demand, showing how resilient the Indian market can be even when global trade gets rocky.