Washington, DC — Soaring exports of India’s genetically engineered (GE)-free soybean meal, rising on strong demand from the United States and Europe, have created a perfect storm for India’s livestock producers, according to the USDA Oilseeds: World Markets and Trade report released Sept. 10.
India’s total soybean meal exports in MY 2020/21 reached 1.9 million tons through May, more than double last year’s total.
This dramatic increase has tightened supplies and boosted prices, negatively impacting feed margins.
India’s move to allow GE soybean meal imports stands to benefit livestock and aquaculture producers.
Global 2021/22 oilseed production is forecast at 629 million tons, slightly lower than August, primarily on Canada rapeseed production falling 2 million tons.
This more than offsets gains in soybean production in the United States and peanut production in India.
Global production of protein meals is forecast at 362 million tons, down 800,000 from August, primarily on lower rapeseed meal production.
Global 2020/21 oilseed production is forecast at 601 million tons. Production is boosted over 1 million tons from August on larger sunflowerseed production in Argentina, rapeseed production in Canada, and peanut production in Senegal.
To read the full report, click here.