Malaysia is doing an intercontinental soybean oil business

Published 2023년 1월 16일

Tridge summary

Malaysia does not cultivate Soybeans but engages in a significant trade of Soybean-related commodities. The trade primarily focuses on importing Soybeans, predominantly from the United States, for poultry feed, with a small fraction used for human consumption. In 2022, Argentina led the Soybean import market, followed by the United States and Brazil. Malaysia's Soybean oil trade includes purchases from Argentina and sales to Mauritania, making it the 13th largest exporter of Soybean Oil in the same year. The Malaysian Department of Agriculture regulates Soybean imports from various countries, requiring specific documentation and inspections to ensure compliance with pest and disease regulations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

There is no commercial cultivation of Soybeans in Malaysia. But their Soybean-related commodities trade is significant. While roughly 20 percent of imported Soybeans are used to make soy drinks and tempeh, a fermented Soybean cake for human consumption, crush demand from the feed industry; specifically, the poultry industry largely dictates domestic Soybean consumption. Demand for poultry products dropped at the beginning of the COVID-19 pandemic but started a slow recovery in late 2020 when the Government of Malaysia began cautiously reopening the economy. According to the AgFlow data, Argentina led the Malaysian Soybean import market with 1.6 million tons in 2022, followed by the United States (0.4 million tons) and Brazil (0.14 million tons). The USDA forecasted MY 2021/22 Soybean imports at 840,000 tons, a slight increase from their MY2020/21 estimate. The expected uptick in imports is based on expected slow recovery in poultry demand. The United States is the largest ...

Source: UkrAgroConsult