October 14, 2009
India may export 2.5 million tonnes of soymeal in November-March
Indian traders are likely to export 2.5 million tonnes of soymeal between November and March due to strong demand from several Asian countries amid a lack of competition from South American exporters, a senior industry official said Tuesday (October 13).
"I am optimistic about the soymeal export prospects because of absence of Argentine and Brazilian soymeals into Asian countries," Davish Jain, president of Central Organisation for Oil Industry & Trade, told Dow Jones Newswires.
The marketing year for soymeal starts October, but supply picks up from November, when the bulk of the new crop starts arriving in the local market.
The country's total soymeal exports in the current marketing year are likely to be close to 4 million tonnes, he said.
