John Baize, President of John C. Baize & Associates, said in 2014/15 global soybean production and consumption reached 319 million tonnes and 296 million tonnes, respectively. In 2015/16 USDA forecasts production will remain the same, but consumption may increase to 306 million tonnes. He said China will be the world’s largest soybean importer with a predicted figure of 77.5 million tonnes.
Global soymeal consumption in 2014/15 was 198.6 million tonnes, while in 2015/16 USDA forecast the consumption to reach 208.6 million tonnes. Mr Baize predicted that in 2015/16 Southeast Asian countries will be among the five soymeal importers. Indonesia is predicted to import 4.7 million tonnes, followed by Vietnam at 4.25 million tonnes, Thailand at 3.05 million tonnes, the Philippines at 2.65 million tonnes and Malaysia at 1.5 million tonnes.
(Source – http://www.blackseagrain.net/novosti/global-oilseeds-overview)