Soymeal/Rapemeal World Demand 2008/09
Oil World forecasts global soybean meal demand for the marketing year 2008/09 (Oct./Sept.) to total 156.7mmt. This is 3.5mmt below the previous forecast of 160.2mmt and 3.3mmt less than the 160.0mmt used in 2007/08.
Global exports are estimated at 53.6mmt, down from 55.0mmt previously and 56.3mmt a year ago.
Argentina's exports will drop, but it will still easily be the world's largest exporter accounting for 25.8mmt of global trade, 1.2mmt lower than last season. Brazil will be the second largest exporter at 11.6mmt, and the USA third at 7.8mt.
Worldwide rapeseed meal demand should reach 30.8mmt in 2008/09, up 2.2mmt from a year ago. The EU will account for 11.3mmt of this (10.9mmt in 2007/08) and China 7.8mmt (6.8mmt in 2007/08).
Global exports are estimated at 53.6mmt, down from 55.0mmt previously and 56.3mmt a year ago.
Argentina's exports will drop, but it will still easily be the world's largest exporter accounting for 25.8mmt of global trade, 1.2mmt lower than last season. Brazil will be the second largest exporter at 11.6mmt, and the USA third at 7.8mt.
Worldwide rapeseed meal demand should reach 30.8mmt in 2008/09, up 2.2mmt from a year ago. The EU will account for 11.3mmt of this (10.9mmt in 2007/08) and China 7.8mmt (6.8mmt in 2007/08).