Press release BoxID: 796143 (UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.)
  • UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.
  • Claire-Waldoff-Str. 7
  • 10117 Berlin
  • Contact person
  • Stephan Arens
  • +49 (30) 31904225

2016/17 global soybean demand exceeds output

(PresseBox) (Berlin, ) The coming marketing year's demand for soybeans is set to outpace production by approximately 4 million tonnes. This is the outcome of the preliminary USDA estimate. Nevertheless, supply to the market will be more than sufficient, as ending stocks are expected to decline by 74 million tonnes to 68 million tonnes.

According to this first official forecast, stocks would still be at the fourth highest level on record. The reason for the reduction in stocks is that consumption is projected to climb by around 10 million tonnes, to a historic high of just under 328 million tonnes. At the same time, production is estimated to rise by 8 million tonnes to 324 million tonnes. This is also the largest soybean output in history. According to information published by Agrarmarkt Informations-Gesellschaft (mbH), the surge is first and foremost based on an increased forecast for Brazil and India compared to the previous year. China and India are the main driver in boosting demand, as they have been in recent years.

UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.

The Union for the Promotion of Oil and Protein Plants e. V. (UFOP) represents the political interests of companies, associations and institutions involved in the production, processing and marketing of domestic oil and protein plants in national and international bodies. UFOP supports research to optimise agricultural production and for the development of new recycling opportunities in the food, non-food and feed sectors. UFOP public relations aim to promote the marketing of domestic oil and protein plant end products.