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Asian Soybean Meal
Consumption
Expected to Decline in 1998/99
After a long run of year-to-year growth in Asia's
soybean meal use, consumption is expected to decline in 1998/99.
A combination of slower growth in protein meal consumption due to
economic difficulties in the region and increased availability of
locally produced competing protein meals are impacting soybean
meal consumption in the region. Soybean meal consumption in
1998/99 is expected to decline in India, Korea, Thailand, the
Philippines, Malaysia, and Indonesia. Declines in all these
countries are currently forecast to range between 100,000 and
150,000 tons compared to projected 1997/98 levels. Smaller
declines are also noted for Japan and Pakistan with little growth
in consumption expected in the remaining Asian markets including
China.
The drop in Asian soybean meal consumption will help trim total
world soybean meal consumption growth to only 2 percent in
1998/99 compared to 7 and 5 percent in the preceding two years.
Growth in other protein meal consumption, particularly rapeseed
meal and fishmeal, will also contribute to the decline in world
soybean meal consumption. Growth in total world protein meal
consumption is forecast to decline only slightly from the rates
experienced in the previous two years.
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