India has begun sourcing soybeans from Nigeria and other African countries following a sharp rise in domestic prices that forced Indian traders to cancel soymeal export contracts for the first time since 2021.
According to a Reuters report, Indian traders recently cancelled about 25,000 metric tonnes of soymeal export contracts while securing approximately 80,000 metric tonnes of soybean imports from African suppliers.
The development is expected to open fresh export opportunities for Nigeria and other African countries producing non-genetically modified soybeans, which are approved for import into India.
Reuters reported that growing demand from India has enabled African exporters to sell soybeans at prices above global benchmark rates.
Founder of agricultural commodities exporting firm [Suraj Impex](https://surajimpex.co.in/?utm_source=chatgpt.com), Vinod Jain, reportedly said Indian exporters were no longer receiving new soymeal orders due to soaring local prices.
According to him, the rising costs have compelled traders to increase soybean imports from African markets.
Jain projected that India’s soybean imports could rise to a record 800,000 metric tonnes by September 2026, a sharp increase from the roughly 2,000 metric tonnes imported in the previous year.
Data compiled by the Soybean Processors Association of India showed that India’s import demand has expanded significantly amid tightening domestic supply conditions.
India currently permits only non-GM soybean imports, limiting sourcing options mainly to African countries such as Nigeria, Benin, Niger and Togo.
Analysts say the latest development could boost agricultural trade opportunities for Nigerian farmers and exporters if production and supply chains are strengthened to meet growing international demand.
