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

0
134

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 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 , soyoil and sunflower , dealers said.

Article continues below Advertisement...

Copyright Reuters, 2018

Source: Brecorder.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here