| Demand
for Soybeans & Soybean Meal
World
Soybean & Soybean Meal Consumption
Demand for soybeans depends on its usage,
which could be divided mainly into soybean oil, and soybean
meal. The Food and Agriculture Organization (FAO) has estimated
that the soybean usage in 2001 to be 46.58 per cent for soybeans,
37.26 per cent for soybean meal, 8.4 per cent for soybean
oil, and the rest of 7.76 per cent for other usage.
Source: United States Department of Agriculture (UDA)
According to the United States Department
of Agriculture (USDA) statistics, the January-estimated
global soybean crush in 2001 will reach 143.12 million metric
tons, an increase of about 20 per cent from that of 1996,
which stayed at 114.43 million metric tons. India and China
will account for most of the increased soybean consumption,
with higher population, low prices, and higher per capita
income, according to the FAO Food Outlook Report.
The global soybean meal consumption has increased
from 91.82 to the estimated 114.41 million metrice tons
for 2001, a growth of nearly 20 per cent. This upward trend
will likely continue, as demand for soybean meal grows in
animal feed, particularly in the European Commission, because
of the ban on the use of Meat and Bone Meal (MBM) in compound
feed.
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