In the season-2011/12, the world demand for soybean exceeds production by13 million tonnes - an expert




In 2011/12 MY the world demand for soybean  exceeds production by13 million tonnes, announced the Regional Director of the European division of the International Marketing of the American Soybean Association (ASA-IM), Mark Anderson, speaking at the conference "Ukrainian market of soybeans - 2012" in Yalta.

In his opinion, the production of soybeans 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 soybean imports to China will increase by 32.8 million tonnes (59%) per decade.

M.Andersen noted that the global consumption of soybeans 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 soybeans, 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.