India Expected to Announced 1.5 Million MT Soybean Import Quota
India is expected to soon allow up to 1.5 million metric tons of foreign-origin soybean meal at a 16.5% basic customs duty, the U.S. Department of Agriculture Foreign Agricultural Service said Aug. 13. But USDA said it is awaiting final…
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approval from India’s Ministry of Commerce and Industry, and said the lack of any official guidance is causing “high uncertainty on how this import quota will be implemented” through Oct. 31. Despite the uncertainty, USDA said Indian buyers are “starting to contract for soybean meal imports from neighboring Bangladesh, Vietnam, and for transshipments from the United States and other origins.”