WASDE May 2025 Report

13-May-2025 10:14 AM

WASDE May 2025 Report
★ Soybean Oil – India's Imports to Decline, Argentina's Production and Exports Set to Rise
India
★ The USDA, in its May 2025 WASDE report, has revised India's soybean oil import estimate for 2025-26 down to 4.6 million tonnes, a reduction of 0.5 million tonnes from last year's 5.1 million tonnes.
★ Opening stocks have been raised from 0.75 million tonnes to 1.2 million tonnes. Domestic production is expected to increase slightly, from 1.98 to 2.04 million tonnes. Consumption is projected to fall to 6.55 million tonnes. Ending stocks are expected to rise by 80,000 tonnes, reaching 1.28 million tonnes by the end of the season.
★ According to the data, increased opening stocks and production are likely to maintain stable availability in the domestic market, reducing dependence on imports.
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Argentina
★ Argentina, one of the world’s leading soybean oil exporters, is expected to produce 8.58 million tonnes of oil in 2025-26, up by 0.8 million tonnes from 8.5 million tonnes last year. Exports are projected to rise from 6.55 to 6.6 million tonnes. Ending stocks are also expected to increase slightly to 0.67 million tonnes, up from 0.65 million tonnes.
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★ India remains the world's largest importer of soybean oil, while Argentina is a major global exporter. The contrasting trends a decline in Indian imports and a rise in Argentine exports are likely to have a significant impact on international soybean oil prices in the coming months.