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Experts from the Foreign Agricultural Service of the U.S. Department of Agriculture (FAS USDA) in China forecast that soybean production in the country in the 2024/25 season will reach around 1.12 million tons, which is 3% lower than the previous year. This decrease is due to a 5% reduction in soybean planting areas to 406 thousand hectares. However, it is expected that the yield will increase by 2%.
The report also indicates that demand for soybean seeds in China will decrease by 5% annually to about 580 thousand tons. It is expected that the record soybean harvest in Brazil will meet at least half of China's needs from February to April and 20% in May and June.
As for rapeseed production, it is expected that in the 2024/25 season, the volume of spring rapeseed seed production will reach 13.9 thousand tons, which is 10% more than last year. This is due to improved yields. Winter rapeseed is also expected in larger volumes - around 27 thousand tons, which is a 9% increase due to expanded planting areas. The total supply of winter rapeseed in the 2024/25 season will be approximately 31.2 thousand tons, including 3.4 thousand tons in stock.
Demand for winter rapeseed seed material is expected to reach 26 thousand tons in the 2024/25 season.
Despite changes in various categories, the overall seed production remains above the five-year average due to favorable growing conditions in 2024, as noted by FAS analysts.
