Indian traders cancel soymeal exports for African imports
Indian traders cancelled 25,000 tons of soymeal exports and booked 80,000 tons of African imports. High local prices made export commitments difficult to meet.
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India traders cancelled 25,000 metric tons of soymeal export contracts and booked 80,000 tons of African imports as domestic prices surged. These cancellations mark the first since 2021, driven by a 41% jump in local soybean costs within a single month. The shift opens market share for American suppliers while forcing Indian processors to pay steep premiums for non-GM oilseeds.
