Trade in soybeans remains high, while exports of processed products are declining. In 2022/23, soybean trade is projected to be well above last year's volume, driven mainly by record production in Brazil and strong global demand. While import demand has fallen sharply in markets such as Bangladesh, Pakistan and Egypt, this has mostly been offset by growth in other markets including Argentina and China. Argentina is forecast to see the biggest increase in imports in 2022/23 as producers look to supplement declining domestic soybean production with imports from other South American producers, especially Brazil and Paraguay, USDA reports oilworld.ru. Conversely, global trade in soybean meal and oil is projected to decline. The drought in Argentina is the main reason holding back the processing and production of soybean meal and oil in the world's largest exporter of both. Global imports of soybean meal in 2022/23 are projected to be 4.2 Mt lower than the previous marketing year and ...
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