Indore (Madhya Pradesh): The Soybean Processors Association of India (SOPA) has made an appeal to union minister of commerce and industry Piyush Goyal, urging the government to safeguard interest of India's soybean and edible oil sectors in ongoing India-USA bilateral trade agreement negotiations.

SOPA warned that any reduction in import duties or concessional imports from the USA could endanger the livelihoods of 10 million Indian soybean farmers and undermine India's drive for self-reliance in edible oils. In a letter SOPA strongly recommended maintaining current import duties on soybeans, soybean oil, and soybean meal, cautioning that lowering these duties could lead to a surge of low-cost imports, severely impacting domestic soybean production.

Given India's reliance on imports for over 60% of its edible oil needs. SOPA warned that concessional imports could hinder the objectives of the National Mission on Edible Oils (Oilseeds). To foster growth in India's food processing industry and address the nation's protein deficiency, SOPA proposed exploring concessional duty arrangements for value-added soy products like soy protein isolates and concentrates. The association also urged the Centre to intervene in reducing the hefty countervailing duty of 283.91% imposed by the USA on organic soybean meal imports from India, which has severely hampered Indian exporters.

Emphasising agriculture's pivotal role in India's socio-economic stability, SOPA underscored that protecting domestic farmers from concessional imports is crucial to ensuring food security, economic resilience, and sustainable development. Dr Davish Jain, chairman of SOPA has expressed confidence that the government would uphold the interests of Indian farmers and adopt a balanced trade approach that safeguards India's soybean and edible oil sectors.