India 2008-09 soymeal exports likely to fall 4 million tonnes

India's soymeal exports in the marketing year ending September 2009 are likely to fall 20 percent to around 4 million tonnes, from an earlier estimate of over 5 million tonnes, a senior industry official said Monday (March 2).

"Looking at the current scenario, exports of soymeal are likely to be around 4 million tonnes plus, rather than the 5 million tonnes plus we estimated in October 2008," said Rajesh Agrawal, a spokesman for the Indore-based Soybean Processors Association of India.

He said exports have been hit by low arrivals of soy in the local market, as farmers are holding back stocks in expectation of better prices.