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EGYPT – Egypt’s soybean imports have been projected to further increase by 14% in 2019-20 as local processing capacity continues to surge, a report by United States Department of Agriculture (USDA) reveals. The recent report by USDA projects soybean imports at 4 million tonnes in 2019-20, up from 3.5 million tonnes in 2018-19 with majority…
ZIMBABWE – The Oil Expressers Association of Zimbabwe (OEAZ), an oil producer’s lobby group, has called for increase output of soybean as an intervention to cut reliance on imports. A report by NewsDay reveals that Zimbabwe’s soyabean local demand stands at 400 000 metric tonnes annually against its current production capacity of around 60 000…
USA - The United States exports of feed grains and co-products for the 2017/2018 marketing year reached 120 million metric tonnes led by higher corn shipments, setting a new record for the second year in a row. According to the U.S. Grains Council, the year’s exports increased 6% (6.5 million tons) above last year’s record,…
GERMANY - Germany is expected to increase imports of soybeans, soybean meal and become a net importer on production losses related to drought, ‘a weather incident of national extent’, said a report from the U.S. Department of Agriculture's Global Agricultural Information Network (GAIN). As a result of drought and hot weather, Germany’s Agriculture Ministry in…
USA - The US grains merchant Bunge Limited is considering the closure of a soybean crushing plant in Buenos Aires Province putting about 60 jobs at risk, reported Reuters citing information from union of employees of soy crushing plants in Argentina. The union of employees representing Argentina’s soy crushing plants said that Bunge had informed…
SOUTH AFRICA - Following China’s response tariffs on US goods including soya beans, there could be possibility of price shocks on the commodity, but an agricultural economist, Wandile Sihlobo has said that this should be cushioned by the ability to substitute yellow maize in feed stock. An article in the Business Day reported that despite…
EGYPT - Archer Daniels Midland Company and Cargill have successfully completed their transaction and formally launched SoyVenTM their new joint venture to provide soybean meal and oil for customers in Egypt. According to the company, SoyVen owns and operates the National Vegetable Oil Company soy crush facility in Borg Al-Arab, along with related commercial and…
CHINA - China’s oilseed consumption continues to grow, driving demand for increased oilseed imports and government support to expand oilseed production, according to GAIN. According to GAIN reports, the total oilseed consumption for 2018/19 is to reach 164.3 million metric tons (MMT) based on the continued growth of the animal husbandry industry’s demand for protein…
USA - The United States has threatened to impose a 25% tariff on products with ‘industrially significant technologies’ from China while the latter has promised retaliatory measures on 100 types US goods including 25% tariff on soybean. The new measures were announced by US President Donald Trump on June 14 prompting a haste response from…
BRAZIL - Brazil is set to top the list of the world’s largest soybeans producer with production estimated at 117 million tonnes, beating the United States which has been on the top rank for a long time in history, according to Abiove, the oilseeds crusher group. Abiove’s report indicates that the US is expected to…