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On September 19, 2024, the Ministry of Agriculture, Forestry and Fisheries (MAFF) of the Government of Japan (GOJ) announced the exemption of domestic field trial requirements for genetically engineered (GE) soybean with familiar trait.

Post maintains Vietnam’s soybean meal consumption forecast for the marketing year (MY) 2023/24 at 5.85 million tons, aligned with feed consumption. It expects consumption to rise to 6.1 million tons in 2024/25 due to increased demand for animal and aquafeed.

On Monday, June 24, 2024, the Ministry of Agriculture, Forestry and Fisheries (MAFF) of the Government of Japan (GOJ) opened a public comment period for its revision for domestic field trial requirements of genetically engineered (GE) crops.

In relation to persistent rising food prices, Japan has seen a decline in overall vegetable oil consumption. Due to the more favorable crush margin for canola compared to soybeans, FAS/Tokyo forecasts a reduction in soybean imports and crush, while seeing an increase in rapeseed imports and crush for both MY 2023/24 and MY 2024/25.

Vietnam’s economy is on the path to recovery. Post revises Vietnam’s MY2022/23 soybean meal consumption down to 5.65 MMT due to lower aquaculture feed consumption and forecasts an increase to 5.85 MMT in MY 2023/24.

After slow growth during the first half of 2023, Vietnam’s economy is on a path to recovery. Post has revised Vietnam’s feed consumption forecast to 26.6 MMT in MY2022/23 matching levels in MY2021/22.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

In MY 2021/22, the total value of Japan’s soybean imports reached a historical record while rapeseed crush hit the lowest point in 10 years as rapeseed imports from Canada declined.

Vietnam’s economy has continued to rebound after the COVID-19 pandemic, while also being affected by global inflation and local price hikes for ingredients.

FY2022 agricultural exports reach record levels.

Post revises the total feed demand forecast down to 26.6 million tons in MY2021/22 as Vietnam continues to face issues with African Swine Fever, inflation, and high feed ingredient costs.