India government rejects GM soymeal import deadline extension
Indian government authorities have rejected calls to extend the arrival deadline for shipments of genetically modified (GM) soymeal beyond January 31, according to local press reports.
India’s central government has decided not to extend the import of 1.2 million tonnes of GM-soymeal, according to reports from The Indian Express.
The news comes as India’s poultry industry association has been lobbying for an extension in the date of shipment of genetically modified soymeal out to March 31, 2022.
But the Soybean Processors Association (SOPA) opposed the calls, pointing to what it says was sufficient soymeal supply domestically and to the fact that fundamentals do not support any need for a further extension in the date of shipment.
“It is not a big deal that India rejected the extension of the import quota,” Gaurav Jain from AgPulse Analytica told Fastmarkets Agricensus.
“This is because India might not import the full 1.2 million tonnes anyway,” Jain added.
The Indian government announced on August 24 that it will allow the import of up to 1.2 million tonnes of GM soymeal in order to compensate for the supply shortage in the local market and regulate domestic prices.
This means that soymeal, tur (pigeon peas) and urad (black matpe beans) will be imported tax-free as long as the bill of lading is issued prior to January 31.