The global export of soymeal is projected to rise from 74.43 million metric tons (lakh tons) in the 2023-24 marketing season to 75.37 million metric tons in the 2024-25 season, an increase of 940,000 tons. This growth is expected to be driven by better shipments from Argentina and the United States, while exports from Brazil and India are predicted to decline.

Key highlights:

1. Argentina: Soymeal exports are forecast to increase significantly from 24.9 million metric tons to 28 million metric tons.
2. United States: Exports are expected to rise from 14.6 million metric tons to 15.8 million metric tons.
3. Brazil: Soymeal exports are predicted to decrease from 22.2 million metric tons to 20.5 million metric tons.
4. India: Exports are expected to drop from 1.97 million metric tons to 1.3 million metric tons.

In terms of production, global soymeal output is anticipated to grow by 12.62 million metric tons, from 259.86 million metric tons in 2023-24 to 272.48 million metric tons in 2024-25. Production increases are expected in Argentina (from 28.51 million metric tons to 31.98 million metric tons) and the USA (from 49.12 million metric tons to 51.48 million metric tons). However, Brazil's soymeal production is forecast to slightly decline from 42.12 million metric tons to 41.58 million metric tons, and India's production is expected to fall from 9.04 million metric tons to 8.8 million metric tons.

While soybean production in Brazil is predicted to reach a record high of 169 million metric tons in the 2024-25 season, crushing within the country is expected to decrease slightly from 54.7 million metric tons to 54 million metric tons. Additionally, Brazil's soybean exports are expected to rise slightly from 104.2 million metric tons to 105.5 million metric tons, and its outstanding stocks are projected to grow by 5.55 million metric tons.