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Oilseeds: World Markets and Trade
US - This is a report on the world's grain markets and trade prepared by the USDA's Foreign Agricultural Service (FAS).
According to the USDA's FAS, growth in world vegetable meal consumption is forecast to slow to just 2% (in soymeal equivalent terms) in 2008/09 after 4 strong years of 4-5% annual growth.
The slowing demand growth is primarily attributed to a forecast 6% drop in soymeal use in the European Union in response to rebounding feed quality wheat production. Soymeal consumption in the EU is forecast to return to the prevailing long-term trend in 08/09 after an incredibly strong year.
Strong demand growth in Brazil attributed to their expanding poultry industry, and in Asia particularly from vegetable meal importers Indonesia and Thailand is forecast to offset the drop in the EU.
In the face of slowing global demand growth, vegetable meal exportable supplies should be more than sufficient to meet demand next year as soybean, sunflowerseed, and rapeseed production are all forecast to rebound. Additionally, palm kernel meal production is forecast to grow as palm area continues to expand.
World Vegetable Meal Consumption Growth Slows As
Feed Quality Wheat Use in the EU Rebounds
Further Reading
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- | You can view the full report by clicking here. |
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