Indian soybean producers anticipate exports to China

06.08.2018

China has imposed a 25% tariff on US produced soybean, while removing all tariffs on imports through APTA countries. China’s annual soybean import of around 100 million tonnes is mostly for domestic consumption. Although this product does not have an exportable surplus in India yet, India Briefing said Indian industry players anticipate exports of USD 100 million worth of soybean meal and USD 50 million worth of groundnut to China.

India is also expecting a bumper crop of soybean this year. A delegation of the Soybean Processors Association (Sopa) of India is expected to visit China in August. They want to assuage Chinese quarantine concerns and ensure market availability for Indian soybean exporters. Currently, there are no soybean oil and soybean flour exports and negligible oilcake exports from India to China. Stiff competition from Brazil and Vietnam will likely also diminish Indian soybean’s competitiveness in the Chinese market.


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