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Soybeans from the United States are once again eligible to enter South Africa. After a mid-summer drought that caused a 35 percent drop in production, South Africa needs to import soybeans to supplement domestic production and maintain crushing demand.

FAS/Cairo (Post) forecasts Egypt’s soybean imports in marketing year (MY) 2024/25 (October – September) to increase by 14.8 percent from the previous marketing year, due to an influx of foreign currency into Egyptian banks.

Post forecasts that South Africa’s oilseed area will be maintained at elevated levels in marketing year 2024/25. South Africa’s summer rainfall oilseed crops in marketing year 2023/24 have been affected by an El Niño induced mid-summer drought, resulting in an expected major drop in crop volumes, creating an optimistic outlook for higher crop area in marketing year 2024/25.

Tunisian MY 2024/25 soybean imports are expected to reach 555,000 MT, compared to 550,000 MT in MY 2023/24 as demand for animal feed increases slightly.

Post estimates that South Africa will produce a record rapeseed (locally called canola) crop of 220,000 metric tons in marketing year 2023/24.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Egyptian traders and crushers continue to demand sustainability and quality of supply, both of which are key features of U.S.-origin soybean. This demand produced another record year for U.S.-origin soybean exports to Egypt with 4.07 MMT in exports, was by far Egypt’s largest supplier of soybeans in marketing year 2021/22.

South Africa has experienced an upsurge in oilseed plantings over the past 20 years with a near nine-fold expansion in soybean area. Post foresees that the positive trend in soybean plantings will continue in marketing year 2023/24 with area and oilseed production reaching historically high level of 1.8 million hectares and 3.6 million metric tons, respectively.

Tunisian MY 2023/24 soybean imports are expected to reach 540,000 MT, compared to 510,000 MT in MY 2022/23. Tunisian olive oil exports are forecast to reach 200,000 MT in MY 2023/24, compared to 155,000 MT in MY 2022/23.

On June 2, 2022, the Government of Morocco suspended customs duties on sunflower, soybean, and rapeseed. This measure will take effect starting June 3, 2022 and continue until further notice. This decision is intended to protect citizens’ purchasing power in the face of rising global prices of various essential goods.

The 2021 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world.