The average monthly soy meal price spread between FAS Kandla and FOB Argentina has slightly narrowed in Jan. and was recorded at US $30/MT in Jan. 2015 compared to US $32/MT in Dec. 14. Argentine soy meal export prices are still lower as compared to the India’s. Notably, India's soy meal exports are at the optimum levels during the period, October through January. (*Spread - FAS Kandla less FOB Argentina). India’s exports window is open and we expect India’s meal prices to further get competitive with the rise in soybean crushing in near-term
India’s soy meal prices are under global supply pressure. Indian meal exporters are advised to aggressively explore the lost markets last season especially traditional South and Far-East Asian destinations and Iran. India is into the period of higher exports considering seasonality. The domestic meal prices are likely to feature steady to firm tone during in near-term. FOR, Kandla (Feb – Mar delivery) is expected to rebound and the quotes will be between the range of Rs.30500 – 31500/MT levels during the month. The prices remained within the range of Rs. 28300 – 30600/MT.......agriwatch
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