With a slight expansion expected from the swine and broiler sectors, soybean imports are forecast to grow, albeit slowly.
The food service industry consumes close to 100,000 tons of soybeans annually, mostly from Canada.
In line with continued economic growth, robust demand for soy based drinks and poultry meat will continue to be the driving forces for soybeans and meal imports.
Accordingly, meal imports are forecast to grow through 2013/14. Argentina is the dominant meal supplier.
Crude palm oil (CPO) output is forecast to remain at 19 million tons through 2013/14.
Continued pressure on CPO prices, combined with government initiatives, will encourage both smallholders and larger plantation companies to accelerate replanting, limiting near term production expansion.
The reduction in matured area equivalent from the replanting will be partial compensated for by new mature area in Sarawak.
Palm oil exports are forecast to increase to 17.55 million tons in 2012/13 and PKO at one million tons.
Continued demand growth in key markets is expected to lead to a marginal increase in exports in 2013/14.
China, India and Pakistan continue to be leading markets, while shipments to the United States remain near one million tons.
