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Indian soymeal exports more than doubled in fiscal 2020/21 to 1.546 million tonnes, driven by tighter Argentine and Brazilian supply and US and European demand for non-GMO meal. Shipments are now slowing because Indian meal is priced well above competing origins, at about $800 per tonne versus $500-550 elsewhere.
Higher Indian meal prices push buyers toward other origins, which keeps global soymeal demand concentrated on Argentina and Brazil and supports prices there; Indian supply should recover after October.
thehindubusinessline.comVishwanath KulkarniApr 29, 2021After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
