November 12, 2015


Thailand soybean imports rise 34%



Thailand's soybean imports during marketing year 2014-15 rose 34% to 2.411 million metric tonnes from1.798 MMT in MY 2013-14.


Citing trade sources, the USDA Foreign Agricultural Service attributed the high growth to: 1)

expanding production of poultry, livestock and aquaculture; and 2) replacement of soybean meal by several feed mills with full-fat soybeans in their feed rations for most of 2015.


"This is the result of a narrow price spread between soybeans and soybean meal", the USDA-FAS said.


Despite the substitution of soybeans for soybean meal, imports of soybean meal in MY 2014-15 rose by 15% to 3.067 million metric tonnes from 2.665 MMT in MY 2013-14, data showed.

Again, this was attributed to growing demand from poultry, livestock, and aquaculture sectors; as well as to several feed mills' replacement of other oilseed meals, especially rapeseed meal, with soybean meal.


While the US market share of Thailand's soybean imports in MY 2014-15 fell slightly to 25% from 27% in MY 2013-14, that of soybean meal imports in MY 2014/15 increased to 23% from only 14% in MY 2013-14.


The USDA-FAS said the Thai livestock and poultry sectors are expected to grow further in MY 205-16, leading to an increase in domestic feed consumption but at a slower pace than in MY 2014-15.

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