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A USDA Foreign Agricultural Service attache report says India approved on May 2, 2022 the import of an additional 550,000 metric tons of soybean meal, including GE-derived meal. The quota fills the unused part of a 1.2 million tonne quota set in August 2021 and runs through September 30, 2022.
The government said the move responds to high meal prices that hurt poultry and livestock feeders.
The import quota adds meal supply to India through September, which should cap local meal prices and reduce demand for competing supplies. The effect on world meal prices is modest but supportive of easing trends.
fas.usda.govMay 23, 2022After 223 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
