Browse Data and Analysis

Malaysia’s palm oil production is forecast at 19.5 million metric tons (MT) in MY2025/26, with export estimates rising to 16.2 million MT as demand in African markets grows and Indonesia’s B40 mandate limits regional supply.

Brazil’s soybean sector continues to demonstrate strong momentum, with MY 2024/25 production reaching a new record driven by higher yields—particularly in São Paulo, Goiás, and the MATOPIBA region—supported by favorable weather and improved cultivation practices.

On May 30, 2025, India reduced its import duty on crude soybean, sunflower, and palm oil from 20 percent to 10 percent, lowering the effective duty to 16.5 percent.

Although domestic soybean production is forecast to reach a 20-year high in marketing year (MY) 2025/26, Korea will remain dependent on imports for 89 percent of total supply.

FAS New Delhi expects India’s peanut oilseed production to rise by 18 percent in marketing year (MY) 2024/2025 and reach 7.2 million metric tons (MMT) due to higher market prices, an increased planting area of 5.6 million hectares, and the use of high-yielding varieties that produced higher yields.

Soybean production in marketing year (MY) 2024/2025 is estimated at 12.9 million metric tons (MMT) on favorable conditions and slightly higher area.

Post revises down its Marketing Year (MY) 2023/24 production estimates to 150 million metric tons (MMT) due to (i) the recent floods in Brazil’s southernmost state of Rio Grande do Sul and (ii) lower yields across several states.

This report analyzes all vegetable oil markets in Korea, whether for food or industrial use, and covers oils derived from soybean, palm, palm kernel, olive, rapeseed/canola, grapeseed, sunflower seed, corn, coconut, sesame, perilla seed (a leafy plant from the mint family), and rice bran.

Post revised down Indonesia palm oil exports estimate to 27.9 million metric ton (MMT) on lower supplies, higher domestic use and expected reduced export demand for 2023/24. Palm oil use for the biodiesel industry is revised down to 12.3 MMT for 2023/24 on lower-than-expected biodiesel distribution in 2023.

Post revises down MY 2023/24 soybean production to 158.5 MMT due to poor weather outlooks resulting from El Niño, particularly in the Centre West states, which may affect final yields currently projected at 3.507 kg/ha.

Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.

On October 17, 2023, the Ministry of Agriculture and Rural Affairs (MARA) published the revised "Administrative Measures on Labeling Agricultural Genetically Modified Organisms (GMOs) (Draft for Comments)." Significant updates in the revised draft...