India soymeal continues to remain outprice in global markets.
Month ended May’22, FOB Argentina monthly average prices remained at USD 473/ MT as compared to previous month at USD 516/MT. India’s FAS Kandla soymeal price went down to USD 674 /MT as compared to USD 837/MT previous month. Soymeal FAS Kandla is still outpriced to FOB Argentina by USD 201/MT compared to previous month at USD 321/MT. Usually, FAS Kandla trades slightly higher than other GM soymeal but price difference between Indian soymeal and Argentina soymeal soared to $743 in Aug’21 and USD 670 in Sept’21. India’s Soymeal export is likely to remain weak for the next few months due to non-competitive prices in global markets. However spread between SBM FAS kandla and FOB SBM Argentina is expected to shrink on correction in Indian Soymeal prices.
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