January 14, 2008

Malaysia's soymeal purchases from India up sharply 
 

Malaysia's soymeal purchases from India nearly doubled on month in December to 11,967 tonnes, latest data from the Soy Processors Association of India showed on Friday (January 14, 2008).

There has been a shift in Malaysia's soymeal import portfolio toward India from the Americas due to lower prices, freight costs and faster delivery, traders said.

Malaysia only bought 6,889 tonnes of soymeal from India in November and 36 tonnes in October.

"This is a significant trend and sales to buyers in Malaysia may increase in the next few months," a Mumbai-based trader said.

India is Asia's largest exporter of soymeal by volume.