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India's expanding ethanol programme is producing growing volumes of DDGS, a by-product of grain-based ethanol, which poultry, dairy and aquaculture feed makers are substituting for soybean meal. DDGS already replaces about 25% of soybean meal in organized feed mills, with an estimated 3.5-4.0 million tonnes of production displacing 1.2-1.5 million tonnes of meal.
Cheaper DDGS (maize-based at about Rs 12.5-15.5/kg versus soybean meal at Rs 55-59/kg) reduces domestic soybean meal demand in India, which is bearish for soybean meal prices there while supporting DDGS demand.
livemint.comVijay C Roy, Dhirendra KumarNov 13, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
