India’s FY20 soymeal exports likely to drop

Thomas Mielke, a leading industry analyst, believes that owing to a surge in domestic prices, India’s FY20 soymeal exports are likely to drop (28.6%) to 1.5 million tonnes in the new marketing year from 2.1 million tonnes in 2018-19. In the last five weeks, Soybean prices in India have risen 11% to the highest in 3.5 years since its production has been hit by heavy rains in Madhya Pradesh. Lower exports from India, Asia’s leading supplier of soymeal, could encourage rival South American suppliers to augment their shipments to the region.