Thailand - Soybean Meal

Soybean meal is the by-product of soybean oil refining operations which are currently dominated by a few processors in Thailand.  Soybean meal is typically used as a main protein source in animal feed manufacturing.   Nearly all domestic soybean meal production is derived from imported soybeans due to the low domestic soybean production.   In order to meet growing feed demand from Thailand’s livestock and poultry sectors, both domestic soybean meal production and soybean meal imports are expected to steadily increase in 2017 and 2018.  The U.S. market share regularly fluctuates depending on U.S. price competitiveness with other soybean meal suppliers such as Brazil, Argentina, and India.  U.S. soybean meal imports are forecast to decrease in 2017, due to competitive supplies from Brazil and Argentina, but are likely to increase in 2018 due to overall higher feed demand in Thailand.
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