February 1, 2006

India sells 24,000 tonnes soymeal to Japan

Indian soybean processors have sold 24,000 tonnes of soymeal to buyers in Japan at around US$245 a tonne cost and freight, a senior industry official said Wednesday.

"Deals for exporting two cargoes of 12,000 tonnes each were contracted late last month, and the delivery is scheduled for March or April," said the official.

He said Japan has emerged as a major buyer of Indian soymeal because of its preference for non-genetically modified foods.

Some importers in Asia have been reluctant to buy soymeal of American origin obtained from genetically modified soybeans, and this has worked in India's favor.