Global soybean processing declined in Q4 2022

According to the results of the IV quarter of 2022 (October-December), the indicators of global soybean processing decreased by 1.2 million tons, to 79.5 million tons. Such dynamics is recorded against the background of a reduction in the volume of oilseed crushing in the countries of North and South America, as well as in China, follows from the data of the report of the specialists of the Hamburg analytical agency OilWorld (Germany).

As noted in the materials of German experts, during the reporting period, the United States reduced the volume of processing of soybeans – from 15.9 million tons (Q4 2021) to 15.7 million tons.

In China, despite an increase in indicators in December, a slowdown in crushing rates was recorded in October-November, which led to a reduction to 24.5 million tons from 24.8 million tons a year earlier.

Argentina and Brazil also reduced oilseed processing in the fourth quarter, from 9.2 and 11.9 million tons to 8.9 and 11.8 million tons, respectively.

At the end of 2022, the volume of world processing of soybeans decreased by 1.5 million tons, to 317.7 million tons.

“This is a rather atypical result, given that oilseed processing has been actively increasing in the last 10 years,” says OilWorld (Germany) in a report.

Tags: soybean