January 5, 2007

 

USDA: US soybean exports to South Korea fall; Dehulled soybean meal for swine and poultry rations

 

 

Soybean imports for the MY 2005-06, declined 4 percent from a year earlier to 1.2 million tonnes due to continuing narrow crushing margins, says the US Department of Agriculture in its December 21 report. 

 

Total US soybean exports to South Korea fell by 38 percent by volume from a year earlier according to USDA report. The drop in total imports combined with greater competition from Brazil resulted in reduced imports from the US as well as a significant decline in US market share.

 

The US market share declined to 43 percent, down 24 percent from the previous year while Brazil's market share increased to 52 percent, up 85 percent from the previous year.  China has remained relatively stable at 5 percent. 

 

In spite of a strong hold of South America and India in the soybean meal market, US soybean meal exports to South Korea are expected to reach 100,000 tonnes in 2006/07 based on the buying contracts to date, says the agency report.

 

Feed millers are beginning to recognise the value of US dehulled soybean meal in rations for swine, poultry and aquaculture.

 

Despite depleting resources of fishery products, South Korean seafood production increased to 2.71 million tonnes in 2005, up 8 percent from the previous year due to the increase of offshore (shallow sea) aquaculture, says the report.

 

The South Korean government has encouraged the use of extruded pellets (EP), composed of soybean meal, fishmeal and wheat flour as they reduce the levels of pollution from trash fish.  Major feed millers who have produced EP expect soybean meal consumption to increase to meet the greater demand from marine aquaculture in the future. They expect the EP inclusion rate of fish feed to be more than 50 percent from the current 15 percent by 2010 under the government's incentive programme to protect the environment. 

 

The Noah Offshore Farm Co Ltd has established six pilot cages of offshore aquaculture in the sea four kilometers away from the city of Pyosun on Jeju Island according to USDA report.  The pilot offshore aquaculture project has been successful in growing flounder (pompano) and rockfish by feeding the compound feedstuff made from soy protein concentrate (SPC).  SPC is more price competitive and environmentally friendly for the water environment than fish-based feed materials. 

 

The government plans to require LMO labeling for retail packaged animal feed manufactured with LMO oilseeds and grains.  This new requirement, aimed at protecting the biodiversity from environmental release of LMOs, is expected to be included in a revised edition of the government "Feed Manual". 

 

For the full USDA report, please click here