April 24, 2008

US soymeal exports to South-East Asia double on-year despite high prices
 

US soymeal exports to Southeast Asia in the current marketing year that began in October have so far doubled on year to around 600,000 tonnes thanks to strong demand in countries such as the Philippines and Vietnam.

"Prices have nearly doubled in the last year, but so have exports," John Lindblom, regional director of the American Soybean Association, told Dow Jones Newswires Thursday on the sidelines of an international conference.

He said total soymeal exports from the US to Southeast Asia are likely to be close to 700,000 tonnes in the current marketing year, up from 400,000 tonnes a year earlier.

"US soy crushing is now entering the lean season, so exports to this region until the end of September are likely to be on the lower side," said Lindblom.