Indian Soymeal Export to Japan Declines
Indian export of soybean meal to Japan has declined this year as Japanese buyers can now source it from domestic market at cheaper price. As per trading sources, Japanese crushers are now offering soymeal at competitive prices.
So far, Indian exporters have been able to book orders for six shiploads of soymeal during November-December. A shipload being 10,000 to 12,000 MT - this amounts to maximum 72,000 MT, far below last year's figure of 105,113 MT.
Apart from India, China, USA and Brazil are other major suppliers of soymeal in Japanese market. The demand for soynean meal in Japan is about 4 million MT per year - of which, about 1 million MT is imported every year.
Japanese suppliers are offering soymeal at 31000 - 32000 yen per MT (US Dollar 290 - 300) - this is about 1000 yen cheaper than Chinese soymeal.
Though Indian soymeal is available at marginally lower rate of 30,000 yen per MT in Southern Japan - the price goes up in other areas because of high transportation cost. (Source: Reuters)
November 12' 2004
