Feed & Additive Magazine Issue 3 April 2021

MARKET REPORT 86 FEED & ADDITIVE MAGAZINE April 2021 tons, India with 9,3 million tons, and Canada with 6,1 million tons. HIGHLIGHTS IN WORLD SOYBEAN TRADE According to the IGC report, the world soybean trade, which was 152 million tons in the 2018/19 season, reached 170 million tons in the 2019/20 sea- son. The IGC estimates that the trade will remain around 170 million tons in the 2020/21 season. The 2021/22 projection foresees an increase of 3 million tons (173 million tons) in trade. The US- DA's March report draws a similar picture and pre- dicts that the trade, which was 165 million tons in the 2019/20 season, will be around 169 million tons in the 2020/21 season. The ranking of the leading countries in the inter- national soybean trade did not change much com- pared to previous years. The largest producers also stand out in exports. Brazil, the USA, Argentina, Paraguay, and Canada accounted for more than 96 percent of global soybean exports in the 2019/20 season. Brazil, which exported 92.1 million tons last season, is expected to reduce its export amount to 85 million tons in the current season. In the same period, it seems that the USA will close Brazil’s gap in the world market. It is estimated that the USA will increase its total exports to 61.2 million tons with an export increase of 15.5 million tons. Argentina's exports are expected to decline to 7 million tons in the 2020/21 season. On the import side, China, the European Union, and Mexico stand out. Ranking first with 98.5 mil- lion tons in global soybean imports in the 2019/20 season, China is estimated to import 100 million tons in the 2020/21 season. While the imports by the European Union countries will remain around 15 million tons, Mexico will continue to import around 6 million tons. Production Imports Exports Crush Ending Stocks 2017/18 343,836 153,671 153,167 295,299 100,155 2018/19 361,044 145,798 148,825 298,712 113,723 2019/20 338,995 165,320 165,178 311,260 96,041 Feb 2020/21 361,079 166,955 169,688 321,977 83,360 Mar 2020/21 361,824 166,904 169,720 323,578 83,735 Source: USDA World SOYBEAN Production, Trade and Consumption Thousand Metric Tons Production Imports Exports Consumption 2017/18 232,617 62,414 65,327 229,030 2018/19 233,988 62,817 67,740 230,160 2019/20 244,392 62,679 67,216 241,539 Feb 2020/21 252,917 62,872 66,505 251,027 Mar 2020/21 254,148 62,822 67,261 251,304 Source: USDA World SOYBEAN MEAL Production, Trade and Consumption Thousand Metric Tons