April 4, 2007
Argentine soymeal exports set to rise -Oil World
Argentina's Oct 2006/Sept 2007 soymeal exports are likely to rise sharply to 27.35 million tonnes from 24.01 million tonnes in 2005/06, according to Germany-based oilseeds analyst Oil World.
This means Argentina will dominate the global soymeal trade, contributing almost half the estimated 2006/07 world soymeal exports of 55.23 million tonnes, in turn up from 51.51 million tonnes in the previous season, it said.
This assumes that Argentina achieves a record 53 percent of world exports in the key April/Sep 2007 sales period, it said.
Brazil's exports are expected to recover but will still be slightly down on the season at 12.80 million tonnes from 12.87 million tonnes in 2005/06, it said.
US exports are forecast to rise to 7.82 million tonnes from 7.32 million tonnes.
Oil World also said world production of oilmeals other than soy is expected to rise only 1.5 percent in Oct/Sep 2006/07 with a weakening trend expected in for the second half of the season. with dependence on soymeal seen to increase.
The report also said forecast for the soymeal market share will increase to 61.4 percent in April/Sep 2007 and to a four-year-high of 60.9 percent in Oct/Sep 2006/07.
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