SIEM REAP, Cambodia, Sept 4 (Reuters) - Indonesia has only bought around 50,000 tonnes of soymeal for the last quarter of 2008, far less than the 175,000 tonnes it had contracted to buy at this time last year, trade sources said on Thursday.

Importers are holding back in anticipation that prices will soften with India's soybean harvest next month, they said.

"We still have time as it takes only two weeks to ship meal from India," said one Jakarta trader on the sidelines of a grains seminar in Cambodia.

Another dealer said Indonesia needs to book 500,000 tonnes of shipment for the fourth quarter and deals could start soon.

"Last year we were well covered as the market was going up and everyone was in hurry to lock supplies," he said. "We are waiting for Indian prices to soften. No wants to commit to Latin American meal unless we know what will happen to Indian prices."

Indonesia is expected to buy around 2.2 million tonnes of soymeal this year, nearly the same as last year, traders said.

India has contracted to sell around 200,000 tonnes of soymeal from the new crop mainly to Japan and South Korea, just 20 percent of around 1 million tonnes sold by this time of the year.

Indian soymeal exporters are quoting around $425 to $430 per tonnes free alongside ship (FAS) Kandla port on the country?s western coast, but buyers are offering $405 a tonne. (Reporting by Naveen Thukral) (([email protected]; +65-9144-7394; Reuters messaging: [email protected]))

Keywords: INDONESIA SOYMEAL/