IGC Soya (Beans & Meal) Trade Forecasts
The International Grains Council (IGC) has boosted its 2019/20 market year (Oct-Sep) soyabean trade forecast to a record 158.0 Mt, underpinned by a recovering animal feed sector in China, where imports are expected to rise to 95.3 Mt (+7.2 Mt year-on-year). Meanwhile, world soyameal trade was trimmed from its April forecast to 67.6 Mt, slightly below last year’s peak, due to lower than expected shipments.
Brazilian soyabean shipments are projected to rise to a record 83.5 Mt in 2019/20, while soyameal exports could inch up to 16.9 Mt.
Looking ahead, 2020/21 global soya trade is anticipated to climb to new peaks. Soyabean trade is expected to gain to 161.5 Mt on increased demand from South Asia and the Near East, while soyameal shipments are forecast to grow to a new high of 69.1 Mt, boosted by demand from the EU and Asia. US total soya exports are projected to rise to a three-year high of 67.7 Mt.