March 22, 2006

Malaysian soybean and soymeal imports rise in 2005

Malaysian soybean and soymeal imports rose 2.8 percent and 19 percent respectively in 2004/05, according to USDA's Mar 15 report on Malaysia oilseeds and products.

Argentina, taking 45 percent of the market share, was the top supplier for both soybean and soymeal to Malaysia in 2004/05. The US captured 24 percent of the soybean market while Canada dominated the food soybean market.

USDA predicts the prospects of soybean imports to be brighter in 2005/06, as the livestock sector and the food soybean sector will expand further. If there are no major livestock disease outbreaks, USDA expects soybean imports to increase by 11 percent to 645,000 tonnes. Soymeal imports are also expected to increase 11 percent to 750,000 tonnes in 2005/06.

The local fishmeal production is expected to decrease in the future due to over-fishing. Additionally, imports are not expected to grow as the main supplying countries are also experiencing over-fishing. Fishmeal exports reached 36,000 tonnes in 2005, mainly to India, China and Vietnam.

For the full USDA report, click here.