India may double the export of soybean meal in 2022/23 MY

Soybean meal exports from India in MY 2022/23 may more than double as drought in Argentina pushed up prices on the global market and buyers had to turn to buying Indian meal at lower prices, Reuters reported. Thus, soybean processing plants in India have already signed contracts for the export of about 160 thousand tons of soybean meal with delivery in January and 100 thousand tons - in February, mainly to such countries as Vietnam, Bangladesh, Japan, Nepal. In addition, it is noted that the greater demand of Asian importers for Indian meal is due to the proximity, which reduces the cost of delivery. At the same time, increased demand for the product has led to an increase in soybean processing in India, which may contribute to a reduction in India's imports of soybean and palm oil in the coming months. According to the expectations of one of the major Indian processing companies, this season the country can export 1.5-2 ...