Global: USDA review, April 2023

Published 2023년 4월 12일

Tridge summary

Soybean trade is projected to surpass the previous year's volume due to record production in Brazil and global demand, with Argentina experiencing the largest increase in imports. However, trade in soybean meal and oil is expected to decline due to a drought in Argentina, leading to a decrease in imports in many countries. The European Union is expected to import and consume record volumes of rapeseed, accounting for more than a third of global rapeseed trade in 2022/23. The USDA has expanded its database to include soybean meal balance sheets for Azerbaijan, Cambodia, and Ivory Coast. Overall, world oilseed production has been reduced by 4.5 million tons to 625 million due to drought in Argentina and Uruguay, but there are some increases in Brazilian soybeans.

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

Original content

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 ...

Source: Oilworld