In 2022/23 MY, the world is expected to increase the production of meal

According to preliminary forecasts, the world production of the main types of meals in the 2022/23 season will increase, largely due to an increase in the output of rapeseed and soybean meals. Leonardo Amazonas, an analyst at the Brazilian agricultural agency Companhia Nacional de Abastecimento (Conab), shared this opinion with Oleoscope, emphasizing that in the current marketing year we should expect an increase in the consumption of meal, mainly due to the high demand for products from China.

“It is expected that the trade in meals will also grow due to the increase in sales of soybean and rapeseed meals,” the expert told Oleoscope.

According to him, in the current season in Brazil, one of the key regions for producers of soybeans and processed products, the production of soybean meal will increase by 4%, but one should not expect an increase in its exports, Amazonas believes.

He notes that in 2023 Argentina will supply a significant amount of soybean meal to the world market.

Earlier, OleoScope analysts stated that there are prerequisites on the market for an increase in the production of meals: “In many ways, this should be expected due to the expected growth in meat production (beef, pork, etc.), which, according to experts from the Organization for Economic Cooperation and Development (OECD), in 2021 amounted to almost 335 million tons, and by 2030 it will grow to 373.8 million tons,” the experts noted.

Tags: China, Brazil, Argentina