India's soybean meal export is not surprising, and the industry is looking forward to a better price

Lead: Reuters news: export sales of meal made from new soybeans in India are beginning to ebb, but traders said on Thursday that the trend will change once prices are firm They said about 120000 to 150000 tons of soybean meal had been contracted for delivery between mid October and December, compared with 350000 tons in the same period last year Rajnikant Rai, vice president of ITC, India, told Reuters: "the price of soybean meal was low before the soybean was listed, but as long as the export shipment started, the price would suddenly rise." the FOB price of soybean meal delivered in November and December is US $178 per ton, and the current delivery date is US $190 per ton Last year, the price of soybean meal also fell to $160-170 per ton, and then rose to $185-190 per ton at the start of shipment, agents said Atul Chaturvedi, vice president of Adani export company, said: "in the past two years, we have encountered this situation, that is, when the shipment started, the original falling price began to rise That's why many traders haven't entered the market " India exported about 2.2 million tons of soybean meal between November 2000 and October 2001 *New deal, traders in Singapore said Japan, Thailand and Indonesia are all in the process of buying new imported Indian soybean meal Japan has bought 25000 tons Thailand and Indonesia have signed a purchase contract of 12500 tons, both of which are due in November India ships its soymeal in small tonnage to different destinations in Asia Each cargo ship has a capacity of about 12500 tons Some Indian traders say they have signed contracts with Iraq to supply high-quality soybean meal, but they have not yet been confirmed "We have heard that Iraq and Libya have bought about 80000 tons of soybean meal, but these transactions cannot be confirmed," said Rai of ITC Traders said that some soybean growing areas in central and western India may suffer from soybean yield reduction due to a prolonged drought A leading trader from the main city of Indore, Madhya Pradesh, said: "the rainfall in Madhya Pradesh, Maharashtra and Rajasthan is delayed If the weather continues to be dry and rainless for a week, we have to revise our estimate of production." Traders say they may reduce their production forecast from 5.7 million to 6 million tons to about 5 million tons Extensive rainfall occurred in most parts of India in June and July, which led to higher crop germination rates, but rainfall has been scarce in the past few weeks Soybeans are India's main oilseed crop, sown in June and July, harvested in September and October.