India's soybean meal exports in May / September will be significantly lower than the same period last year

Lead: Mumbai, May 14 (Reuters): due to competition from Latin American countries and strong domestic prices, India's soybean meal exports in May / September this year will be significantly lower than the same period last year, and may be reduced to 250000 tons from 325000 tons last year Although Indian soybean meal exports increased in October 2001 / April 2002, Indian soybean meal will lose its price competitive advantage due to the decline of international soybean meal prices caused by the soybean harvest in Brazil and Argentina Moreover, in the last five months of the 01 / 02 market year, domestic soybean meal prices in India are expected to rise due to rising domestic demand and relatively insufficient supply Domestic demand for soybean meal has been bullish in recent years as production of alternatives (peanuts and cottonseed meal) has declined, according to the head of an Indian exporter As a major soybean meal exporter to Asian countries, Indian soybean production is also facing seasonal decline Indian soybean is usually sown in June / July and harvested in October / November Domestic soybean meal sales in India are expected to reach 1.1-1.2 million tons by September, compared with 1 million tons in the same period last year, traders said Export status: in October 2001 / April 2002, the export volume of Indian soybean meal was 2.2 million tons, compared with 1.7 million tons in the same period last year The main reason for the increase was the advantage of Indian soybean meal price and the good international environment However, due to the increase in domestic soybean prices, Indian exporters are now quoting 186 US dollars per ton (FOB) of soybean meal, higher than 177 US dollars last month, while domestic soybean prices have increased from 11100 rupees last month to 11800 rupees (240.8 US dollars per ton) At the same time, Argentina's return to the export market has also brought pressure to India due to the easing of the domestic situation.