Global Markets: Oilseeds, Chinese soybean imports lowered on weaker demand
Soybean
China
Published Jul 17, 2022
Tridge summary
China imports and consumption of oilseeds and vegetable oils have fallen short of expectations in recent months, and for that reason MY2021/22 soybean imports have been lowered 2.0 million tons to 90.0 million. So far, October-May soybean imports amounted to nearly 61.0 million tons, 5 percent lower compared to the same period a year ago.
Original content
Additionally, major exporters’ trade data indicates a further decline in October-July arrivals to nearly 76.0 million tons, 7.5 million tons (9 percent) lower than last year. COVID-related restrictions in China, slowing economic growth, and higher global commodity prices have weakened China demand for oilseeds processing, protein meal, and vegetable oil consumption. For those reasons, the soybean crush forecast has been cut this month by 2.0 million tons to 87.0 million in line with a further decline in protein meal and food vegetable oil consumption growth in MY2021/22. Similarly, MY2022/23 soybean imports have been lowered 1.0 million tons to 98.0 million on weak purchases to date and the assumption that recovery in demand for protein meals and vegetable oils will be more muted. Palm Oil Trade Shrinks and Prices Remain Volatile Amid Changing Indonesian Policies Indonesia’s palm oil policies have had a profound impact on the global market this year, influencing availability and ...
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