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.

What to read next
AG-SYB-0078 Crush Margin China Soy (Brazil) March 20, 2024:M1: 104.25 yuan per tonneM2: 63.25 yuan per tonneM3: 43.25 yuan per tonneM4: -44.75 yuan per tonneM5: -122.25 yuan per tonneM6: -132.75 yuan per tonne August 21, 2024:M1: -5 yuan per tonneM2: -6.75 yuan per tonneM3: -50.25 yuan per tonneM4: -100.5 yuan per tonneM5: 23.5 yuan per tonneM6: 34.5 yuan per tonne AG-SYB-0079 Crush Margin China Soy (US Gulf) March 20, […]
In the week to March 13, US soybean meal and soybean cake sales fell slightly, while exports increased, the latest USDA figures released on Thursday, March 20 showed. US 2024-25 soybean meal and cake sales reached 182,200 tonnes, down by 1% on the week and by 20% from the four-week average, but within average market […]
The details affect the following prices:AG-SYB-0079 Crush Margin, China Soy (US Gulf), M1, yuan per tonneAG-SYB-0082 Crush Margin, US Soy, M1, c$ per bushelAG-SYB-0080 Crush Margin, Brazil, Soy, M1, $ per tonneAG-SYB-0078 Crush Margin, China Soy (Brazil), M1, yuan per tonneAG-SYB-0081 Crush Margin, Argentina Soy, M1, $ per tonneFastmarkets clarifies that, where the value of a futures contract is factored […]
China has announced additional tariffs of up to 15% on imports of US goods from March 10, with the new measures covering largely agricultural products, alongside restricted exports to 15 US companies, according to a notice posted by the country’s Ministry of Finance and Ministry of Commerce on Tuesday, March 4. Imports of agricultural goods […]
US corn sales for the 2024-25 season were reported at 1.65 million tonnes in the week to February 6, up by 12% from the previous week and by 20% from the prior four-week average, landing within the USDA’s expected range of 800,000-1.7 million tonnes, USDA data showed on Thursday, February 13. Much of the increase […]
Brazilian corn exports amounted to 3.59 million tonnes in January, down by 26.3% from the same month last year. Meanwhile, soybean shipments fell by 62.4% to 1.07 million tonnes, according to customs weekly data on Monday, February 10. In January last year, Brazil exported 4.87 million tonnes of corn and 2.85 million tonnes of soybeans. […]