Browse Data and Analysis

The People’s Republic of China (PRC), State Administration for Market Regulation (SAMR) and Standardization Administration have published the final version of National Standard for Soybeans (GB1352-2023), which will take effect on December 1, 2023.

This report updates several sections of the European Union’s “Oilseeds and Products Annual” report released in April 2023.

India’s soybean oilseed and rapeseed production estimates for marketing year (MY) 2022/23 (October-September) increased to 12.4 and 11.8 million metric tons (MMT) respectively due to favorable weather conditions.

Soybean imports are raised to a record 101 million metric tons (MMT) in marketing year (MY) 22/23 on surging imports, which reached 84.3 MMT through July.

Turkiye announced a three-month export ban on olive oil in bulk and in barrels due to the shortage of olive oil production in Mediterranean countries and subsequent negative effects on domestic prices.

Post estimates that South Africa will produce a record rapeseed (locally called canola) crop of 220,000 metric tons in marketing year 2023/24.

El-Nino weather patterns, which bring less rain than normal, are expected to peak in August to September 2023.

The State Administration for Market Regulation issued the General Quality Standard for Nut and Seed Food, which will come into force on August 1, 2023.

Post estimates MY 2022/2023 soybean production at 21.25 million metric tons (MMT), 3.75 MMT below the official USDA estimate on lower than expected yields.

Malaysia was the 26th-largest export destination for U.S. agricultural products in 2022, totaling nearly $1.1 billion in value, and is a top prospect for exports of food and beverage ingredients because of its large and growing food processing industry.

FAS Sofia updates its forecasts for Bulgarian production of oilseed crops in marketing year (MY)2023/24 to 2.48 million metric tons (MMT), based on improving prospects for average yields of rapeseed and sunflower.

For 2023/24, Post forecasts soybean planted area at 45.2 million hectares (ha), and production at 159 million metric tons (MMT), based on a yield of 3.52 mt per ha.