Browse Data and Analysis

Soybean production for MY 24/25 is forecast slightly up at 19.9 million metric tons (MMT) based on higher yield and a planted area of 9.95 million hectares (Mha).

On October 8, 2024, the Ministry of Agriculture and Rural Affairs (MARA) announced the registration of 30 genetically engineered (GE) corn and soy varieties, including 27 GE corn varieties and three GE soybean varieties.

Ukraine introduced procedures for the approval of minimum export prices for selected bulk commodities, including grains, oilseeds, vegetable oils and meals, walnuts, and honey.

Forecast soybean production for MY 24/25 is unchanged at 19.6 million metric tons (MMT) based on a planted area of 9.95 million hectares (Mha). Relatively low and declining soybean meal (SBM) prices since the beginning of MY 23/24 could encourage more SBM use in feed production.

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.

For marketing year (MY) 2024/25, Ukrainian farmers are forecast to increase area under all the major oilseeds except for sunflowers. However, regarding production volumes, this increase might be somewhat dampened by lower yields compared to the high levels of MY2023/24.

On March 19, 2024, the People’s Republic of China (PRC) National Crop Variety Registration Committee (CNCVRC) published a second variety registration list for genetically modified (GM) corn and soybeans.

Soybean imports for marketing year (MY) 24/25 are forecast to reach 103 million metric tons (MMT). Increased soybean meal (SBM) inclusion rates due to competitive prices, stable demand in the poultry sector, and growing demand in aquaculture is expected to offset weaker demand in the swine sector due to forecast declining production in MY 23/24 and MY 24/25.

On February 12, 2024, the People’s Republic of China (PRC) notified the National Standard for Seed of Economic Crops – Part 2: Oil Species (Draft) to the World Trade Organization (WTO).

On January 4, 2024, the Ministry of Agriculture and Rural Affairs (MARA) published a revised “National Standard for Seed of Economic Crops - Part 2: Oil Species (Draft for Comments)." The revised draft standard pertains to seeds for sowing/planting...

On December 26, 2023, the Ministry of Agriculture and Rural Affairs (MARA) announced the issuance of 85 seed production and operation licenses, including 26 genetically engineered (GE) corn and soybean seed production and operation licenses.

On December 7, 2023, the Ministry of Agriculture and Rural Affairs (MARA) announced the registration of 51 genetically engineered (GE) corn and soy varieties, including 37 GE corn varieties and 14 GE soybean varieties.