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02/02/06 - Japan Emerging as Major Buyer of Indian Soymeal as Importers Shy Away from American GM Soy
Nikkei English News via NewsEdge Corporation
NEW DELHI (Dow Jones) -- Indian soybean processors have sold 24,000 metric tons of soymeal to buyers in Japan at around $245 a ton, cost and freight, a senior industry official said Wednesday.
"Deals for exporting two cargoes of 12,000 tons each were contracted late last month, and the delivery is scheduled for March or April," said the official.
He said Japan has emerged as a major buyer of Indian soymeal because of its preference for non-genetically modified foods.
Some importers in Asia have been reluctant to buy soymeal of American origin, obtained from genetically modified soybeans, and this has worked in India's favor.
-By Sameer Mohindru, Dow Jones Newswires; 91-11-2307-4020; sameer.mohindru@dowjones.com
-Edited by George Bernard
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