India cancels soymeal export deals, turns to Africa for soybean imports

Indian traders have cancelled 25,000 metric tons of soymeal export contracts. This is the first time since 2021. They have also booked 80,000 tons of imports from African countries. Soaring domestic prices have reversed trade flows. This shift helps North and South American suppliers boost shipments to Asian buyers. African exporters are selling oilseeds at a premium.

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