India’s soymeal exports in 2018/19 could jump as much as 70 percent from a year ago, buoyed by expected purchases from the world’s biggest soybean buyer China, industry officials told Reuters on Thursday.
A depreciation in the rupee and a jump in soybean output will help India gain market share in China, which is looking for new suppliers after imposing tariffs on key U.S. farm commodities as part of a Sino-U.S. trade row, they said.
“China’s market is huge. It is likely to open for India in the next two-three months,” said Davish Jain, chairman of the Soybean Processors Association of India (SOPA).
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