September 9, 2009

US soy exports to Indonesia jumped nearly 20 percent to around one million tonne in the marketing year to August and are expected to remain steady this year, a senior US industry official said on Tuesday (Sep 8).

Indonesia, which buys soy mainly for its food industry, is likely to snap up US cargoes in the months ahead on lack of supplies from drought-stricken Latin America, said John Lindblom, regional director of the American Soybean Association.

Lindblom said Thailand, which usually imports Brazilian soy, was also expected to take more US cargoes over the next six months, or at least until South American supplies reach the market.

Thailand, which consumes around two million tonnes of soy a year, grows around 300,000 tonnes and meets the bulk of its requirement through imports.

Lindblom also said US soymeal exports to Southeast Asia are expected to rise, given the fact Argentina is out of the market, with Thailand expected to take 100,000 to March, compared with 100,000 tonnes for the whole of the marketing year to August.

Typically, Indian and South American suppliers dominate the Southeast Asian soymeal market.