Exploring Buyers and Suppliers in India Soybean Export Market

The global soybean trade is a crucial segment of agricultural commerce, with India emerging as a significant player. As a leading global import export data provider, we analyze key trends, top buyers and suppliers, and challenges in India’s soybean export market. 

India’s Soybean Export Overview

According to india import export data, India exported soybean and soybean products worth USD 1.2 billion in 2023-24. The country remains a key supplier of soybean meal, oil, and other derivatives to global markets.

Top Soybean Products Exported from India

1. Soybean Meal (Primary export product)
2. Soybean Oil
3. Non-GMO Soybeans
4. Soy Lecithin
5. Processed Soy Products

Top 5 Countries Importing Soybean from India

1. Iran
2. Vietnam
3. Bangladesh
4. South Korea
5. Thailand

Top 5 Buyers and Suppliers in India’s Soybean Market

Top Buyers (Importers of Indian Soybean Products)

1. Iranian Livestock Industry (Major buyer of soybean meal)
2. Vietnamese Feed Manufacturers
3. Bangladesh Poultry Industry
4. South Korean Food Processors
5. Thai Soybean Oil Refineries

Top Suppliers (Indian Soybean Exporters)

1. Ruchi Soya Industries (Now part of Patanjali Foods)
2. Adani Wilmar Ltd
3. Agrocorp International
4. Bunge India
5. Cargill India

Top Export/Import Companies in India

• Exporters:
  • Patanjali Foods (Largest soybean meal exporter)
  • Adani Wilmar (Leading soybean oil exporter)
  • LT Foods (Processed soy products)
• Importers (Suppliers to India):
  • Archer Daniels Midland (ADM)
  • Louis Dreyfus Company
  • Bunge Limited

Global Trade Issues Affecting Soybean Exports

1. Logistical Challenges – Rising freight costs and port delays.
2. Non-Tariff Barriers – Strict phytosanitary norms in EU & US.
3. Competition from Brazil & Argentina – Lower-priced soybean meal.
4. Geopolitical Tensions – Iran trade sanctions impact exports.

HSN Code for Soybean Products

• Soybeans (1201)
• Soybean Oil (1507)
• Soybean Meal (2304)

India Should Restore Soybean Exports to US in Bilateral Trade Talks

The US was once a major buyer of Indian soybean meal, but trade restrictions and competition reduced exports. With rising demand for non-GMO soybeans in the US, India should negotiate better market access during bilateral trade talks.

Key Benefits of Restoring US Exports:

✔ Higher Export Revenue – US pays premium prices for non-GMO soy.
✔ Strengthening Trade Relations – Better Indo-US agricultural ties.
✔ Diversifying Markets – Reducing dependency on Iran & Southeast Asia.

Conclusion

India’s soybean export market holds immense potential, but global competition and trade barriers must be addressed. By leveraging import export data, businesses can identify new buyers and optimize supply chains. Restoring US exports could be a game-changer for Indian soybean traders. For the latest soybean import export data, connect with a trusted global import export data provider today!