January 4, 2006

USDA: Taiwan oilseeds and products annual report 2006

Soybean imports for 2005/06 and 2006/07 are forecast to remain unchanged from 2004/05 at 2.255 million metric tons.  

An increase in demand for soybean meal for hog production is forecast to partially offset a reduction in soybean meal demand due to a decrease in poultry production.  The U.S. share of the soybean import market returned to its historical level of 70-75 percent in 2004/05, up from 61 percent in 2003/04. 

Over the next few years, lower priced imported soybean meal may displace addition quantities of soybean meal from locally crushed soybeans.

The local livestock sector is relatively competitive with imports. Domestic pork production is estimated to have increased by one percent in 2005, in spite of the fact that Taiwan lifted its import quota limitation on pork and poultry meat and products in January 2005. 

An increase in local pork production has reduced imports in 2004/05. The consumption of imported poultry is mostly limited to the HRI sector, which constituted about 17% of local consumption, or 80 thousand metric tons in 2005. 

Concern over the bird flu viruses reportedly reduced consumption of poultry meat and products by 30 percent in October, and will continue to influence consumption thru the first few months of 2006.

For the full USDA report, click here.