India soymeal exports to hit four-year low on high prices
Indian soymeal exports are set to hit a four-year low as prices surge 47 percent. High costs have pushed Asian buyers toward cheaper South American supplies.
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India soymeal exports will fall 50% to 900,000 metric tons this year as prices rose 47% to a four-year high. Indian prices hit $680 per ton, exceeding the $430 offered by South American suppliers for June-loading shipments. The price gap is shifting market share to global competitors among traditional Indian buyers in Asia and Europe.
