The higher demand for local feed could prompt a reduction in overseas sales that are already under pressure from cheaper grains from Latin America. India, however, is still the leading seller of corn and soymeal in Southeast Asian markets. Demand for the two main feed grains in India, the world's fifth biggest producer of broilers, is expected to rise to 12 million tonnes.
Corn will make up most of the feed demand growth due to ample supplies and cheaper prices. Demand for soymeal may not rise as prices surged after late rains hit the soybean crop.
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