West Asia Conflict Weighs on India's Soybean Meal Exports, with a 63% Decline

India's Soybean Meal Exports Plummet 63% in March Due to Conflict and High Prices

India's soybean meal exports suffered a significant decline of nearly 63 percent in March, with only 60,000 tonnes exported during the month. This represents a substantial drop from the 1.62 lakh tonnes (162,000 tonnes) of soybean meal that was exported in March 2025, according to estimates by the Soybean Processors Association of India (SOPA).

The decline in exports can be attributed to the ongoing conflict in West Asia, which has disrupted the supply of Indian soybean meal to key markets such as Iran, the United Arab Emirates (UAE), Kuwait, and Oman. Additionally, Indian soybean meal prices have remained higher than those in other major exporting countries like the US, Brazil, and Argentina for an extended period.

The conflict in West Asia began on February 28, following the US and Israeli attacks on Iran. This escalation has put further pressure on Indian soybean meal exports, exacerbating the decline in March.

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Despite the challenges faced by the export market, domestic consumption of soybean meal remained strong in March. According to SOPA estimates, soybean meal consumption in India rose to six lakh tons (600,000 tonnes) last month, up from five lakh tons (500,000 tonnes) in March 2025. This increase indicates that the domestic animal feed industry is supporting demand for soybean meal.

SOPA Executive Director D N Pathak attributed the decline in exports to the conflict in West Asia and the high prices of Indian soybean meal. The processors' association will continue to monitor the situation and provide updates on the soybean meal market.