November 30, 2010
Indian soymeal exports may surge
Soymeal exports from India, Asia's top supplier of the animal feed, may increase by 68% this month because Southeast Asian buyers are replacing imports from South America where dry weather threatens planting.
Sales to Japan, South Korea, Vietnam, Thailand, and China may be 500,000 tonnes in November in contrast to 297,661 tonnes in the previous year, Rajesh Agrawal, a coordinator for the Soy Processors Association of India, said.
Sales in the quarter to December 31 may rise by 78% to 1.5 million tonnes, he added.
About 35-40% of the 10.1 million tonnes of soy production forecast by the association has reached, he said.