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On May 19, 2022, the European Commission (EC) approved two genetically engineered (GE) crops (1 soybean and 1 corn/maize) for food and animal feed. The two authorizations were published in the European Union’s Official Journal on May 20, 2022, and they remain valid for 10 years.

On May 24, 2022, India’s Ministry of Commerce and Industry/Directorate General of Foreign Trade issued Public Notice No. 10/2015-20 (May 24, 2022) (see, Appendix I). The public notice specifies that India is allocating a tariff-rate quota (TRQ) of 2 million metric tons (MMT) for crude soybean oil and a similar TRQ of 2 MMT for crude sunflower oil in India fiscal year (IFY) 2022/23 and in IFY 2023/24. The Indian government’s measure is meant to address the high domestic prices of edible oils, and to check rising food inflation.

On May 2, 2022, the Ministry of Consumer, Food and Public Distribution, through the Directorate General of Foreign Trade announced approval for the importation of an additional 550,000 metric tons (MT) of soybean meal (including GE derived).

Oilseed production is met with mixed expectations in 2022. Total soybean production is forecast to increase slightly due to higher planted area in marketing year (MY) 2022/23. However, the cancellation of federal commercialization support programs...

MY2022/23 is characterized by a small decrease in rapeseed production and an increase in imports of soybean meal and oil. Total United Kingdom (UK) rapeseed area in MY2022/23 is forecast to increase by 17 percent with an anticipated yield of 3Mt per hectare, slightly below the Defra five-year average of 3.3Mt per hectare.

For marketing year (MY) 2022/23 Post projects a recovery in Argentine soybean planted acreage to 17 million hectares (HA) resulting in 51 million metric tons (MMT) of soybean production as farmers shift acreage out of cereal crops that require more fertilizer. MY 2022/23 sunflowerseed planted acreage is projected up at 2 million HA, with total production estimated at 4 MMT in response to high prices.

Despite increased area, oilseed production in marketing year 2022/23 is forecast to show only a small increase due to lower average yields than in the previous marketing year. Like in other sectors, the Russian invasion of Ukraine significantly impacts the oilseeds market.

The 2021 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world.

Post forecasts that Brazilian producers will expand soybean planted area at a slower pace, to 42.5 million hectares (ha) in 2022/23, up from the estimated 40.7 mn ha planted in the 2021/22 season. Post forecasts 2022/23 soybean production at 139 million metric tons (MMT), up from the estimated 124.8 MMT harvest this season, assuming return to normal weather conditions.

On March 31, 2022, the European Commission (EC) approved three genetically engineered (GE) crops (1 soybean, 1 rapeseed, and 1 cotton) and renewed the authorization for 1 cotton crop for food and feed imports. The three authorizations and one renewal were published in the European Union’s Official Journal on April 4 and 7, 2022, and they remain valid for 10 years.

For marketing year (MY) 2022/23 Post projects continued expansion of soybean planted acreage to 1.225 million hectares (HA) and production of 2.8 million metric tons (MMT).

Post projects marketing year (MY) 2022/2023 soybean production at 10 million metric tons (MMT) on 3.45 million hectares as Paraguay rebounds to more normal conditions following a significant drought. MY 2022/23 exports are projected at 6 MMT.