China: Oilseeds and Products Update

Soybean production for MY 24/25 is forecast at 19.6 million metric tons (MMT) based on planted area of 9.95 million hectares (Mha). The relatively low and declining soybean meal (SBM) prices since the beginning of MY 23/24 could encourage more SBM use in feed production. Post raised its forecast for MY 24/25 rapeseed production to 15.8 MMT based on a slight gain in acreage to 7.4 Mha and higher yield. Post maintains its forecast of MY 24/25 peanut production at 18.1 MMT. Forecast MY 24/25 cottonseed production remains unchanged at 9.3 MMT based on a slight drop in production area offset by yield gain.