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- (-) August 2022
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Palm oil exports for 2021/22 are revised down to 25.5 million metric tons (MMT) on restrictive export policies and weaker global demand. The soybean subsidy program launched in April 2022 unexpectedly caused several importers to slowdown purchases. Feed mill demand for soybean meal continues to drive imports from South American origins.
Despite lower production in marketing year (MY) 2022/23, Zambia’s production of its staple crop, corn, will be sufficient to meet domestic demand. Zambia’s corn crop is forecast to decline by 25 percent to 2.7 million metric tons (MMT) in MY 2022/23, after producing a record crop 3.6 MMT in MY 2021/22.