Taiwan: Oilseeds and Products Annual

Taiwan’s soybean imports are forecast at 2.65 MMT for MY2024/2025 and MY2025/2026, a slight increase from the previous MY. Soybean crush rate as well as soybean meal demand is expected to be sustained by feed production and consumption. In recent years, Taiwan also has been exported soybean meal and soybean oil to rest of Asia to sustain crush and manage oil and meal inventory. The United States is expected regain some of the soybean market share it lost to Brazil in MY2024/2025. In the first half of MY2023/2024, logistics issues in both the Panama Canal and the Red Sea region have made U.S. bulk soybean shipments from the Gulf Coast challenging; most of the U.S. imports instead are in the form of containerized shipments out of U.S. Pacific Northwest (PNW). Since February 2022, Taiwan has waived business taxes on imported soybeans to stabilize commodity prices and reduce inflationary pressures. This measure is currently set to expire on September 30, 2025.