June 17, 2010

 

Indian soymeal exports may fall on high domestic demand

 

 

India's soymeal exports are likely to decline gradually over the next few years as the pace of growth in the domestic poultry sector increases, a senior industry analyst said Wednesday (June 16).

 

India's animal feed consumption has almost doubled to 100,950 tonnes a day last year from 50,630 tonnes in 2004, Rabobank International Assistant Manager Oscar Tjakra said.

 

According to industry estimates, India's soymeal exports declined by 50% to around 2.1 million tonnes in the financial year ended March 31 from 4.2 million tonnes the previous year.

 

Traders expect a recovery in exports this year due to large carryover stocks of soybeans, but shipments may not retain the record levels of 2008-09.

 

Although India is Asia's larger exporter of soymeal by volume, countries in the region will increasingly have to depend on the U.S. and South America for supply, Tjakra said.

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