Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Global Soybean Consumption to Decline 3 Million Tons on Prices

Global soybean consumption will drop about 3 million metric tons in 2012-2013 as record prices curb demand for the oil made from the oilseed for food and biofuel, Thomas Mielke, executive director of Oil World, said.

“Higher prices of oils have affected consumption in the food sector but a larger impact is stemming from a slowdown in biodiesel sector,” according to a presentation by Mielke handed out an industry conference in Mumbai today. “The growth rates in usage of oils and fats in biodiesel consumption are going to slowdown further in 2013.”

The rally in soybean meal prices have cooled demand among livestock producers and poultry meat production is already declining, Mielke said. Soybeans rose to a record $17.89 a bushel also on Sept. 4.

Import demand will shift to more attractively priced palm oil next year, he said. “This will result in seizable increase in exports from Indonesia and Malaysia, reducing their stockpiles,” he said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.