Allow import of food speciality soybeans: Soy industry to PM Modi

The soybean processing industry has urged Prime Minister Narendra Modi to allow the import of 50,000 tonnes of food speciality soybeans from the US duty-free.

The beans could be allowed into the country at “zero” duty under tariff-rate quota since food speciality soybeans are not grown in the country, K Sarat Chandra Kumar, President, Soy Food Promotion and Welfare Association, said.

“Indian soybeans are oil- and meal-centric, suitable for animal utilisation. There are no food speciality soybeans grown in the country; thus the supply of the same does not exist,” Kumar said.

He said that inconsistent and inferior raw soybean quality was the leading cause of dissatisfied consumers wanting better taste, texture and flavour profiles.

“Though soya food companies have improved quality, due to a lack of affordable, high-quality raw ingredients, we feel challenged for new growth opportunities,” he said.

Kumar said while all Indian beans were non-GM, they were also treated as commodity beans regardless of the end-use, be it in the food or feed industry.

According to Sumit Agarwal, Vice President of the Association, the lack of suitable food-grade speciality soybeans was limiting business opportunities, job creation, and revenue generation.

The Association said it represents over 3,000 small, medium and large-scale units across the country.