Oil World: the volume of global soybean processing in 2024/25 will reach a new record

Published 2024년 6월 19일

Tridge summary

Oil World forecasts a significant increase in global soybean processing to a record 340-341 million tons in the 2024/25 marketing year, up by 13 million tons from the previous year. This surge is primarily driven by the growing demand for soybean oil and soybean meal. Additionally, global soybean production is anticipated to rise to 416.5 million tons in the same marketing year, with the US contributing 121 million tons. Oilseed reserves are expected to reach 119 million tons by the end of the marketing year, marking the second-highest figure on record.

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

Original content

Oil World experts predict an increase in the volume of soybean processing in the world in 2024/25 MY by 13 million tons per year, to a record 340-341 million tons. As explained, the expected increase in oilseed processing is due to active demand for soybean oil and a further increase in the need for soybean meal. It is also predicted that global soybean production in 2024/25 MY will increase - to 416.5 million tons from 388.76 million tons expected in 2023/24 MY. In particular, the US can collect 121 million tons (113.34 million tons). Oilseed reserves at the end of MY ...

Source: Agrosektor