Japanese like Chinese soybean meal, Indian businessmen are restless

Introduction: Singapore, June 25 (Reuters) - Asian traders said on Tuesday that the Japanese preference for Chinese soybean meal made Indian exporters uneasy, because Japan has always been the largest market for Indian soybean meal, and this year India's sales to Japan have dropped by more than 50% and continue to decline Under normal circumstances, Japan imports more than 300000 tons of Indian soybean meal every year, and this year may only import 100000 tons, because of the aggressive competitiveness of China's soybean meal supply Despite losing most of Japan's market share this year, Indian exporters have yet to feel the pinch, as unexpected growth in sales to South Korea and some Southeast Asian countries is likely to make up for the decline in sales to Japan Oil seed traders and Indian exporters in Asia say that in the long run, when imports from South Korea and Southeast Asia tend to be normal, the decline in Indian sales to Japan may still affect India's overall export situation One Indian soybean meal exporter said it was a real concern that Japan suddenly stopped buying Indian soybean meal Chinese prices have driven us out of the Japanese market, which is the headline news for Indian exporters China's soybean meal exports to Japan surged to 257985 tons from January to may, an increase of nearly 650%, according to data provided by the General Administration of Customs on Monday After Japan, Malaysia and Indonesia also became major importers of Chinese soybean meal from January to May China's small soybean meal orders to Japan cost about $12 per ton When India's prices go up this year, some Japanese Importers transfer large orders to China The freight from India to Japan is about $20 per ton Japan is buying Chinese soybean meal at $105 per ton for C & F, but the price from India to Japan is more than $110 per ton Maintain good relationship with Indian suppliers, but some traders doubt whether China has the ability to supply soybean meal for a long time Many Japanese Importers may have turned to China, but they are also maintaining good relations with India's trading partners, one trader said They may re import Indian soybean meal No one knows if China can supply soybean meal for a long time Traders say South Korea imports the most soybean meal from India Since the beginning of Indian agricultural year in November, South Korea has imported nearly 700000 tons of Indian soybean meal South Korea usually imports about 500000-550000 tons of Indian soybean meal every year Indonesia's meal market also increased the import of Indian soybean meal This year's import volume exceeded 500000 tons, at least 30% higher than last year, because the agricultural credit loan of the United States was not in place A local trader said the Philippines' appetite for Indian soybean meal also surprised the market Even Thailand has now become a major consumer of Indian soybean meal Trade officials say the Philippines has signed a purchase contract for about 200000 tons of Indian soybean meal, up from 70000 tons last year Thailand's imports of soybean meal from India also doubled, with imports exceeding 200000 tons One trader said that although the competition from China is increasing, the market doubts whether the supply of goods in Argentina after the financial crisis is guaranteed, so it is still conducive to the overall sale of Indian soybean meal Once the situation in Argentina returns to normal, it will be difficult for Indian exporters to maintain their current market share India exports more than 2 million tons of soybean meal every year.