China is expected to increase oilseed crushing in 2024/25 due to a moderate rise in demand for protein meals from the feed sector, according to US Department of Agriculture (USDA) data reported by World Grain.
Total oilseed crushing was forecast at 137.3M tonnes in 2024/25, up from an estimated 135.3M tonnes the previous year, the 9 September report said.
Overall feed consumption continues to grow, driving soyabean meal use, according to the USDA’s Foreign Agricultural Service (FAS) report.
“Additionally, a moderate recovery of vegetable oil demand and greater soyabean use for food also drove up consumption of oilseeds,” the FAS said.
Soyabean crushing was estimated at 99M tonnes in 2024/25, up from 97.5M tonnes the previous year.
Lower soyabean meal prices and competitive pricing for exports had boosted crushing, the report said.
Meal consumption for feed in 2024/25 was estimated at 102.7M tonnes, indicating moderate growth from the 101.3M tonnes estimated the previous year.
Soyabean meal continues to dominate meal use for feed, accounting for over 74%, followed by rapeseed meal at 13.1% in 2024-25, according to the FAS report.
“Overall feed consumption in 2023 is 3% higher than the previous year,” the FAS said.
“The upward trend in overall feed consumption is expected to continue in 2024 taking into consideration the production gains of animal products.”
Total vegetable oil for food use also was also forecast to increase in 2024/25 to 35.6M tonnes, up from 35.1M tonnes the previous year.
“Economic growth that is lifting the living standards of consumers is the main driver for overall consumption of vegetable oils,” the FAS said.
