According to Oil World estimates, global soy processing volume increased 2024% year-on-year to 8 million tonnes in January-March 76,08, at the expense of Argentina, Brazil and the United States.
At the same time, the production of soybean oil increased by 1,1 million tons to 14,4 million tons during this period, and that of soybean meal increased by 4,4 million tons to 59,7 million tons.
It also notes that consumption of soybean meal was higher than expected in the first three months of 2024, but stocks of this product also increased. In turn, the sharp decline in palm oil exports has led to an increase in demand for other edible oils, particularly soybean oil.
Source: APKinform (Ukraine)
