India’s soymeal exports could fall 38 pct on lower bean crop


: ’s soymeal exports are likely to fall nearly 38 percent from a year ago to 1.25 million tonnes in 2017/18 due to a drop in soybean production, a trade body said on Wednesday.

Lower exports from India will help major growers such as the , Argentina and Brazil increase sales of the animal feed to Asian buyers such as Bangladesh, and .

The country is likely to produce 8.35 million tonnes of soybeans in 2017/18 marketing season started on Oct. 1, down nearly 9 percent from the previous estimate due to poor weather conditions, the Soybean Processors Association of India (SOPA) said in a statement.

India is the world’s biggest importer of edible . A drop in soybean output could force the country to raise overseas purchases of edible such as palm oil, soyoil and sunflower oil, dealers said.

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Copyright Reuters, 2018



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