Browse Data and Analysis

On October 17, 2023, the Ministry of Agriculture and Rural Affairs (MARA) published the revised "Administrative Measures on Labeling Agricultural Genetically Modified Organisms (GMOs) (Draft for Comments)." Significant updates in the revised draft...

Post increased its forecast for soybean planted area to 45.4 million hectares for 2022/23, up previously from 45.2 million hectares.

For 2023/24, Post forecasts soybean planted area at 45.2 million hectares (ha), and production at 159 million metric tons (MMT), based on a yield of 3.52 mt per ha.

Soybean imports are increased to 98 million metric tons (MMT) and 98.5 MMT in marketing year (MY) 22/23 and MY 23/24, respectively, on rebounding soybean meal (SBM) and soybean oil demand.

FAS Manila forecasts copra production at 3 million MT for MY 2023/24 because of the coming El Niño and the break from the 3-year productive cycle. Soybean meal imports are projected to reach 2.9 million MT because of expected expansion in the broiler and aquaculture sectors.

The Korea oilseeds and products market is mature with limited annual change, reflecting stable consumer demand and stagnant domestic production.

In 2022/23, Brazil is forecast to reap a record soybean crop of 153 million metric tons (MMT). Post maintained the forecast for planted area expansion of 43.3 million hectares (ha). Harvest lags behind schedule compared to previous years,