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- (-) Oilseeds
- (-) March 2023
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Modest growth in the animal protein sector is expected to raise China’s soybean imports to 97 million metric tons (MMT) in Marketing Year (MY) 23/24. The People’s Republic of China’s (PRC) removal of COVID-related restriction in December 2022 is expected to boost overall oilseed consumption.
Indonesia palm oil production for 2023/24 is forecast at 46 million metric tons (MMT), an increase of 3 percent from the previous year.
The Korea oilseeds and products market is mature with limited annual change, reflecting stable consumer demand and stagnant domestic production.