* India kicks off new soymeal export season
* Sells 77,000 T to South Korea in 2 deals
* More deals likely as Indian meal competitive (Adds details, quotes)
SINGAPORE, July 30 (Reuters) - India has signed its first new-crop soymeal export deals, selling around 77,000 tonnes to South Korea for November and December shipments, regional traders said on Thursday.
Indian soymeal was traded between $410 and $415 a tonne, including cost and freight (C&F) to South Korea.
"South Korea always buys early and more deals should happen as Indian meal is cheaper than South American meal," said a Singapore-based trading manager with an international trading company. Traders said soymeal from South America was quoted around $420 and $425 C&F to South Korea.
Another trader said one deal of around 47,000 tonnes was signed this week and 30,000 tonnes was sold late last week.
Traders said there was talk that India had sold around 10,000 to 20,000 tonnes of buyers in Southeast Asia which could not be confirmed.
Indian soymeal, which reaches buyers in Southeast Asia by mid-October, will likely be delayed by at least two weeks on slow progress of the annual monsoon rains.
Last month's scanty rains raised concerns that India's soybean output might get hit, but the government data showed oilseed sowing rose to almost last year's levels after the rains revived in the second week of July.
For the week ending July 17, India's oilseed area stood at 10.7 million hectares against 11.0 million hectares a year earlier, farm ministry data showed.
India produced 17.9 million tonnes of summer-sown oilseed crops in 2008 with soybean contributing 55 percent of the total output.
India's soymeal exports in the year ending September 2009 may fall 35 percent to 3.2 million tonnes on a lower crush and sluggish overseas demand. The export sales were also subdued as farmers held back stocks in the face of lower prices.
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