Feed & Additive Magazine Issue 3 April 2021

MARKET REPORT FEED & ADDITIVE MAGAZINE April 2021 85 351 million tons in the 2019/20 season. This means 13 million tons more consumption than the production amount in the same period. Likewise, forecasts for the 2020/21 season point out that the consumption will be 367 million tons, more than the production (by 6 million tons). The gap between production and consumption means that existing stocks are falling. However, the 2021/22 projection of the IGC is promising. According to the projection, production in the next season will be 5 million tons more than consumption, which will contribute to the increase in stocks again. LEADING COUNTRIES IN SOYBEAN PRODUCTION The American continent accounts for more than 85 percent of the world's soy- bean production. Brazil is the largest soybean produc- er in both the region and the world. According to the USDA data; Brazil pro- duced 128.5 million tons of soybeans in the 2019/20 season. The country is expected to increase its pro- duction to 134 million tons in the next season. In global production, the USA follows Brazil with 96.6 million tons. Production in the USA is expected to reach 112.5 million tons in the current season. Argentina is the third-largest soybean producer in the world with 48.8 million tons. Production in the country is expected to decline to 47.5 million tons in the new season. Argentina is followed by China with 48,8 million tons, Paraguay with 9,9 million SOYBEANS Production Trade Consumption Carryover stocks 2018/19 363 152 346 64 2019/20 Est. 338 170 351 52 2021/22 projection 383 173 378 50 25.02 360 169 365 45 25.03 361 170 367 45 Source: IGC - million tons 2020/21 Forecast