MUMBAI, Sept 25: India's soyameal exports in the current year could hover around 2.5 million tons, sharply down from 3.4 million tons a year ago due to a smaller soyabean crop and a dip in global prices, a senior industry official said.

"There is a pressure on prices, a reversal of last year when our yields and prices were good," S. Sivakumar, head of the international business division of agri-marketing firm ITC Ltd, told reporters on the sidelines of a trade meeting on Saturday.

Oil seed processors said soyameal prices for November and December delivery were now quoted at below $200 a ton compared with $250 a ton last year.

Traders expect global prices to remain und soyabean crop a year, for which sowing takes place in June and July and harvesting begins in September.

Sivakumar estimated India's soyabean output in the current year at 6.0 million tons, almost a million tons lower than production in 2003, wheen reports of pests. So the crop would be closer to 6.0 million tons, he said.

He said soyameal exports would also be under pressure because of higher domestic demand due to lower availability of domestic groundnut meal. The industry employs nearly 10 million people.

Sivakumar said India is not very aggressive in selling because of the low global prices but enquiries were being received from Europe and traditional buyers such as South Korea, Thaihis year because of the low prices and the opening up of a rail link to Pakistan.

They said India was expected to sell around 600,000-700,000 tons of soyameal to Pakistan, Bangladesh, Nepal and Sri Lanka. Sivakumar said India was likely to take from the US and Argentina.-Reuters