Soybean meal prices have risen by over 40 per cent in recent weeks to around Rs 65 to 66 per kilogram, increasing the cost of feed production
Expressing concern over the growing shortage of soybean meal (SBM), a critical protein ingredient used in animal feed, the Compound Livestock Feed Manufacturers Association (CLFMA) of India has said that the shortage is leading to a sharp rise in feed costs and creating significant challenges for India’s poultry, aquaculture and livestock sectors.
The association added that soybean meal prices have risen by over 40 per cent in recent weeks to around Rs 65 to 66 per kilogram, increasing the cost of feed production and impacting farmers across the animal protein value chain. The concern is particularly acute for the aquaculture sector, where feed accounts for nearly 50 to 60 per cent of production costs.
“A sustained shortage of soybean meal and escalating feed costs can adversely impact farm productivity and profitability across the value chain. As India sets its sights on becoming a global seafood export powerhouse, ensuring access to high-quality and affordable feed ingredients must become a national priority,” stated Divya Kumar Gulati, Chairperson, CLFMA of India.
The issue assumes even greater significance in light of the Centre’s vision to significantly expand seafood exports. Recently, Commerce and Industry Minister Piyush Goyal stated that India has the potential to increase seafood exports to USD 30 billion over the next five years, nearly 2.5 times current levels. Achieving this ambitious target will require a strong and resilient feed ecosystem that can consistently support productivity, quality standards and export competitiveness, the association noted.
To address the emerging challenge, CLFMA has recommended to ensure balanced availability of soybean meal for domestic feed manufacturing while safeguarding the interests of soybean growers. The association has recommended to promote investments in soybean processing and value-chain infrastructure to improve supply efficiency.
Strengthening collaboration between policymakers, farmer bodies, processors and feed manufacturers to develop a long-term protein security roadmap are also among the recommendations. The association has called for facilitating a stable and predictable policy environment that supports feed affordability and sectoral growth.
