India's soymeal exports in 2018/19 could jump as much as 70 per cent from a year ago, buoyed by expected purchases from the world's biggest soybean buyer China, industry officials told Reuters on Thursday. A depreciation in the rupee and a jump in soybean output will help India gain market share in China, which is looking for new suppliers after imposing tariffs on key US farm commodities as part of a Sino-US trade row, they said. "China's market is huge. It is likely to open for India in the next two-three months," said Davish Jain, chairman of the Soybean ...
soyabean soyameal exports could rise 70% this year, thanks to increased demand from China, the world’s biggest Indian buyer, which is looking for new suppliers due to its trade dispute with the US. The exports will be helped by an expected 20% rise in production and a 12% fall in the value of the rupee. Total exports could rise to three million metric tonnes, from the 1.75 million mt last year. India’s main customers up to now have been Bangladesh, Vietnam and Japan, and traders have already signed deals to ship 300,000 mt to Japan, Vietnam and Europe.