Browse Data and Analysis

Tunisian MY 2022/23 soybean imports are expected to reach 560,000 MT, compared to 555,000 MT in MY 2021/22. Tunisian olive oil exports are forecast to reach 135,000 MT in MY 2022/23, compared to 200,000 MT in MY 2021/22.

Turkey’s production of major oilseeds – sunflowerseeds, cottonseeds, and soybeans – in MY 2022/23 is projected to rebound from the previous year as strong prices are expected to spur increased plantings.

Only limited growth in soybean and vegetable oil imports is forecast for 2021/22. Rising prices and changes in taxation policies are hindering demand for meal from the poultry sector and capping growth in edible oil demand.

Indonesia kicked off 2022 by rolling out several market intervention policies in response to recent rising prices for cooking oil. From January 19-31, 2022, Indonesia implemented a temporary cooking oil subsidy program utilizing the Crude Palm Oil (CPO) fund, the same funding source that subsidizes the biodiesel mandate program.

Post lowered its 2021/22 forecast for soybean planted area to 40.4 million hectares (ha) and soybean production to 136 million metric tons (MMT). This season sowing began optimistically, with most soybeans planted on time compared to last year.

Despite initial favorable conditions, Argentine oilseed crops have faced warm and dry weather across most growing regions since mid-December. Rains are needed soon to forestall more significant yield reductions. Post reduces its projected Marketing Year (MY) 2021/22 soybean production to 46.5 million metric tons (MMT), 3 MMT below USDA Official.

India’s soybean production estimate for marketing year (2020/2021 is revised upward to 11.8 million metric tons on account of higher acreage and better than expected yields.

China’s soybean imports in marketing year (MY) 20/21 hit a record 99.8 million metric tons (MMT) on high feed demand in the swine and poultry sectors.

Post lowers its MY 2021/22 projected planted area for soybeans to 17.0 million hectares. This reduction of 500,000 hectares will translate to total projected production of 49.7 million metric tons, 2.3 million metric tons below the USDA Official estimate.

Soybean imports are forecast at 101 million metric tons (MMT) in marketing year (MY) 21/22, up 3 MMT from the previous year.

India’s soybean production estimate for marketing year (MY) 2021/22 (October-September) is lowered to 10.8 million metric tons (MMT) on account of delayed and erratic rainfall.

This report updates several sections of the “European Union: Oilseeds and Product Annual” released in April 2021.