Japan: Oilseeds and Products Annual

Japan’s overall oilseed consumption is forecast to remain stable in MY 2020/21 and MY 2021/22. Due to the COVID-19-related shift from eating out to at-home cooking, in MY 2019/20 and MY 2020/21, Japan increased rapeseed imports and crush, while reducing soybean imports and crush. To meet the robust demand for soybean meal while domestic soybean crush declined, Japan increased imports of soybean meal in MY 2019/20 and MY 2020/21. Due to steady demand and domestic feed price stabilization programs, fluctuations in global soybean prices will not impact the volume of Japan’s oilseed imports. Japan’s implementation of a more stringent sustainability criteria for biomass will lead to a decline in imports of palm kernel residues and palm oil in MY 2021/22.