India Turns to Nigeria, Other African Nations for Soybean Imports Amid Price Surge
Rising domestic soybean prices push Indian traders to source non-GM soybeans from African countries including Nigeria, Benin, Niger and Togo.
India has increased soybean imports from Nigeria and other African countries after soaring local prices disrupted its soymeal export market. The development is expected to create fresh export opportunities for African producers of non-genetically modified soybeans.
India has turned to Nigeria and several other African countries for soybean imports following a sharp increase in domestic soybean prices that forced Indian traders to cancel soymeal export contracts for the first time since 2021.
According to a Reuters report, Indian traders cancelled about 25,000 metric tons of soymeal export contracts and secured approximately 80,000 metric tons of soybean imports from African countries in response to rising local prices.
The development is expected to open new export opportunities for Nigeria and other African producers of non-genetically modified (non-GM) soybeans, which are approved for import into India.
Reuters reported that growing demand from India has enabled African exporters to sell soybeans at prices above global benchmark rates.
Founder of agricultural goods exporter Suraj Impex, Vinod Jain, said elevated domestic prices had significantly affected India’s soymeal export competitiveness, resulting in reduced export orders.
According to him, the situation has encouraged traders to increase soybean imports from African countries to stabilise supply.
Jain projected that India’s soybean imports could rise to a record 800,000 metric tons by September 2026, compared to only about 2,000 metric tons imported in the previous year, based on data from the Soybean Processors Association of India.
India currently permits only non-GM soybean imports, limiting its sourcing options mainly to a few African countries, including Nigeria, Benin, Niger and Togo.
