In response, advancements in concentrated animal and aquatic production, growth in the feed industry and expansion in the crushing sector are spurring demand and need for imports to supply feed protein sources, such as soybeans and rapeseed.
Total oilseed imports in MY13/14 are forecast to reach 68.9 million tons from 66.1 million tons in MY12/13.
Specific MY13/14 forecasts for oilseed categories include:
- Soybean production will fall four percent from last year to 12 million tons based on a stable planted area of 6.8 MHa and average yield
- Soybean imports will rise six percent to 65.5 million tons
- Soybean meal demand will rise three percent to 52.7 million tons in response to strong feed demand
- Soybean oil will rise 3.5 percent to 11.9 million tons due to increased crush
- Rapeseed production will increase to 12.7 million tons based on a slight rise in planted area to 7.05 MHa, on average yield
- Rapeseed imports will increase slightly to 3 million tons
- Rapeseed meal imports forecast up slightly to 750,000 tons
- Rapeseed oil imports forecast at 1.15 million tons
- Peanut production will stabilize at 16 million tons unchanged from MY12/13, based on a slight increase of planted area to 4.65 MHa and average yield
- Peanut imports remain low at 30,000 tons
- Peanut exports fall to 500,000 tons
- Cottonseed production will fall one million tons to 11.75 million tons due to an expected drop in overall cotton planted area
- Cottonseed imports will be driven by increased demand and diversified use and will reach 350,000 tons
