Soybean imports to
Southeast Asia could double over the next 10 years, buoyed by demand from fish farms looking to feed China, the U.S. Soybean Export Council said Sept. 19.
China, with the world s largest population, was the largest consumer of seafood last year, after Japan, a research report said.
China consumed about 694 million tonnes of ocean resources each year, compared with 582 million tonnes by Japan and 349 million by the United States which ranked third for production and consumption.
A whole area that is new and different that we see, is the whole aquaculture area the growth of fish industries, chief executive officer Jim Sutter told Reuters on the sidelines at the at the SE Asia U.S. Agricultural Co-operators Conference. China today is the world s largest producer of fish& a huge consumer of fish, he said adding that China now exports some of what they produce.
Forecasts would tell you, that in the years to come, all the fish that they are producing, they re going to consume themselves. They will likely start to import fish to feed their population.
Total Southeast Asian soymeal imports are estimated at 10.8 million tonnes, with the United States contributing 2.3 million tonnes, Sutter added.
I believe a lot of that s going to have to come from Southeast Asia, said Sutter, on future Chinese fish demand, adding that countries like Indonesia, the Philippines and Malaysia were best placed to meet this demand.
We could double over the next 10 years exports to Southeast Asia, easily on the growth of aquaculture demand, he added.
In the near-term, U.S. Agriculture Department estimated soybean production at 3.085 billion bushels, compared with trade estimates for 3.032 billion bushels and its August estimate of 3.056 billion.
The U.S. consumes about 45 per cent of the soybeans it produces, mostly used by the livestock industry, with the remainder exported.
I don t have an axe to grind with the USDA numbers, added Missouri-based Sutter. If anything, maybe slightly higher than the USDA numbers.
We ve had pretty good rains here (U. S.) recently, and that if anything will help the crop. Some people were concerned that they had missed the acreage I think that their (USDA) are pretty accurate.