Indian non-GM soy meal alternative for Europe
Indian soy meal exporters could see sales to the European Union surge to 3 million tonnes in the next three years from a standing start as the 27-nation block seeks more non-GM varieties.
As Brazil and Argentina increasingly grow genetically modified soybeans, India has an opportunity to become a leading exporter of non-GM meals made of non-GM soy seeds, said Girish Matlani, managing director of Sonic Biochem, India's biggest exporter of soy products.
Already, Indian exporters have sold about 23,000 tonnes of the animal feed to Europe Union, a new market for them, since the start of the marketing year in October, traders said.
"India may export about 100,000 tonnes of soy meal. In my view, exports will reach 3 million tonnes in the next three years as India will emerge as the main supplier of non-GM soy meal to Europe," Matlani said.
He expected the European Union, which consumes about 30 million tonnes of soy meal annually, would soon turn to India as the main source to meet its demand for 6 million tonnes of the non-GM feedstock.
India does not allow commercial cultivation of GM food crops. Adopting a cautious approach, the government earlier this month put off the launch of a GM vegetable, unlike China which has approved rice and corn varieties developed in laboratories.
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