Soybean Meal Exports From India to Climb 25% on Bigger Crop, Adani Says

Soybean meal exports from India, Asia’s largest supplier of animal feed, may climb 25 percent next year as domestic oilseed output surges, according to Adani Wilmar Ltd., a processor and exporter.

Shipments may surge to 5 million metric tons in the year beginning Nov. 1, from an estimated 4 million tons this year, Atul Chaturvedi, chief executive officer, told reporters in Mumbai today. Traders likely sold 250,000 tons to 300,000 tons of soybean meal from the new crop, less than the 700,000 tons contracted to export a year earlier, he said.

Crude palm oil imports by India have “dried up” in recent days after Indonesia announced a cut in tax on exports of refined palm oil products, Chaturvedi said. The country may import 8.5 million tons to 8.8 million tons of edible oils in the year beginning Nov. 1, he said.

To contact the reporter on this story: Swansy Afonso in Mumbai at safonso2@bloomberg.net

To contact the editor responsible for this story: Thomas Kutty Abraham at tabraham4@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.