India’s Soybean exporters flagged concerns over the government’s reported consideration to permit genetically modified (GM) Soybean imports from the US, cautioning that such an act could weaken the country’s export potential built on its non-GM reputation. Notably, Indian soya products are recognised as they are not produced using genetically modified raw materials, as it is a notable feature that commands a premium in key markets such as Europe. Soymeal Exporters are afraid off that import of GM soybean could blur this distinction, weakening the credibility of the country as a source of non-GM soy products.
What did the SOPA executive director mention about Soy products under Soybean imports?
DN Pathak, executive director of Soybean Processors Association of India (SOPA) said: “All Indian soy products are non-GM since our basic raw material is non-GM. Most soy value-added products are made using either the defatted or full-fat soybean meal as the raw material. Indian soy-based food products are imported mainly for their non-genetically modified attribute.
Recently, Soybean Processors Association of India (SOPA) wrote to the Ministry of Commerce raising concern over the proposed GM soymeal imports plan, warning that it would further depress prices for local farmers already grappling to sell below the Minimum Support Price (MSP). The Industry body has appealed to the government to protect both farmer income and the integrity of India’s soy export brand.
Country’s soymeal exports are thriving largely because of non-GM label
Currently, India runs a trade deficit in the aggregate soy complex because of heavy soyoil imports, though it does not support soybean imports. The country’s soymeal exports are thriving largely because of the non-GM label. The data from the Observatory of Economic Complexity (OEC), India carried out the soymeal exports $ 1.11 billion worth in 2023, getting fifth rank among 121 exporting nations. Additionally, Soymeal was India’s 67th most exported product that year. According to the American Soybean Association, India got fourth rank globally in soymeal exports in 2023-24, leaving behind Argentina, Brazil, and the US. Interestingly, following Indonesia, Vietnam, and the Philippines, the European Union is the largest soymeal importer. India is one of the biggest importers to the European Union for its non-genetically modified tag.
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