May 22, 2012

Global soy demand beats output by 13 million tonnes

The soy demand worldwide surpasses the yield by 13 million tonnes in 2011/12 MY, announced Mark Anderson, the Regional Director of the European division of the International Marketing of the American Soybean Association (ASA-IM).

In his opinion, the production of soy in Argentina, Brazil and Paraguay will decrease by 17.7 million tonnes in 2012 compared to 2011. At the same time, long-term forecasts with respect to USDA show that the soy imports to China will increase by 32.8 million tonnes (59%) per decade.

Andersen noted that the global consumption of soy during the period from 2000 to 2011 has a bullish trend. If this trend continues, 10 years later the world will need additional 70 million tonnes of soy, up than Brazil plans to produce in 2012.

In addition, world consumption of vegetable oils for food, farming and industry will increase by 62 million tonnes (70%) after 11 years.