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MY 2025/26 soybean crushing demand to grow at a slower pace of two percent due to slow economic recovery with uncertainties from the U.S. reciprocal tariff measures.
MY 2023/24 and MY 2024/25 soybean crush will be well below the five-year pre-pandemic average annual growth due to a slow economic recovery.
After the 2023/24 El Niño cycle, fishmeal production in marketing year (MY) 2024/25 is expected to recuperate back to 1.1 million metric tons (MMT), a 39 percent increase compared to the previous year's estimates.
Peru is the largest fishmeal producer in the world. Fishmeal production in marketing year (MY) 2023/24 is forecast at 1.18 million metric tons, a 23 percent increase compared to the previous year's estimate.
FAS Bangkok (Post) expects soybean imports to rebound in Marketing Year (MY) 2022/23 and further increase to around 4 million metric tons in MY2023/24, driven by strong demand for poultry and swine feed.
FY2022 agricultural exports reach record levels.
Marketing Year (MY) 2022/23 soybean imports are expected to increase 5 percent from a slow import growth in MY2021/22, driven by the recovery in hotel and food service sector. Palm oil production in MY2021/22 and MY2022/23 is expected to continue the upward trend.
Fishmeal exports reached a surprising 1.2 million metric tons (MMT) in MY 2021, the highest amount in ten years. However, production and exports are forecast to return to more normal levels at 910,000 and 896,000 metric tons, respectively.
FY2021 agricultural exports reach record levels.
In the first quarter of 2021, U.S. soybean exports reached the second-highest value ever at $7.7 billion, nearly double the same period last year.
The gradual economic recovery from the COVID-19 pandemic is expected to continue to drive up import demand for soybeans in MY2020/21 and MY2021/22
The 2020 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world. This summary lists only the United States’ primary trading partners.