From S&P Global Platts:
The impact of rising coronavirus infections is back on the headlines with the number of cases rising in major European economies, affecting mobility. We also take a look at Russian gas flows into Europe, Southeast Asia's appetite for Middle Easter crude, the surge in demand for Australian carbon credit units, and China's soybean demand in the years ahead.
....4. China's soybean demand forecast seen at record levels on booming swine herd
What's happening? The market has been worried about China's slackening soybean demand in recent months on the back of negative crush margins and sporadic cases of the African swine fever. China-based crushers have been struggling with negative margins amid high costs of raw soybeans and sliding soybean meal prices.
What's next? Platts Analytics expects China's robust pork industry consolidation to support soybean demand in the coming years, overshadowing the negative crush margin trend seen in 2021. According to Platts Analytics, China's soybean demand in 2022 and 2023 are forecast at record levels of 102 million mt and 104 million mt, respectively....
....MUCH MORE
Full infographic: China's soybean demand set for record levels
