Livestock Growth in Former Soviet Countries Boosts Soy Demand

June 10, 2014 04:06 AM
Livestock Growth in Former Soviet Countries Boosts Soy Demand

Oilmeal consumption in the former Soviet Union countries will climb to a record in the 12 months ending in September on livestock feed growth, Oil World said.

Demand for feed from 12 oilseeds in the Commonwealth of Independent States will rise to 9.4 million metric tons in 2013-14 from 8.9 million tons a year earlier and 4.2 million tons 10 years ago, the Hamburg-based researcher said in a report. Soymeal will be the most popular at 3.8 million tons.

"Soya meal is projected to again dominate oilmeal usage in the CIS countries this season, in tandem with the prospective expansion of pork and poultry industries," Oil World said. "Beef producers will probably continue to struggle with the shrinking live cattle supplies in the former Soviet Union countries, leading us to expect an at best unchanged beef output this year."

Hot and dry weather in Russia’s Central and Volga Federal Districts is "posing a threat to this year’s spring grain and oilseed crops," Oil World said. "If it stays dry in coming weeks, damage to spring planted crops will probably become inevitable."

Fish meal prices have started to climb due to reduced supplies from this year’s catch in Peru, Oil World said. From April 23 to June 4, the catch was 33 percent of the quota, with average daily landings at the lowest in years, it said, citing Peru’s oceanographic institute Imarpe. Peru fishmeal export prices were $1,763.83 a ton in April, up 13 percent since the end of December, according to International Monetary Fund data.


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