India Eyes China as Rapeseed Meal Prices Soar, Sees Rs 1,000 Crore Export Opportunity

India is seizing a massive export opportunity as global rapeseed meal prices soar on the back of EU shortages and a Chinese 100% tariff on Canadian imports. Chinese buyers have stepped up purchases, buying 52,000 tonnes of Indian rapeseed meal in three weeks—four times last year's total—at $220–$235 per tonne, well under EU prices. Trade association SEA calculates that India can export an additional half a million tonnes to China, worth around Rs 1,000 crore, if Beijing further eases trade curbs. India, the world's third-largest rapeseed producer, can raise exports from 2 million to 2.5 million tonnes this year, stabilizing domestic prices and reducing inventories. If momentum is maintained, China may soon join India's leading purchasers, a development that would represent a major change in international agri-trade flows Source: Business Standard, Economic Times, The Hindu Business Line