- Cullman, Alabama


November 29, 2012

NATION: U.S. may double soybean exports to Russia after Obama signs law



The country's pork production increased 53 percent over seven years to last year and poultry output more than doubled, according to the Moscow-based National Meat Association.

Russia is importing soybeans mostly from Brazil and Argentina, where prices are lower than in the U.S., Rylko said. Russia's soybean and soymeal production is increasing "aggressively" and will start competing with imports soon, he said. "Our U.S. colleagues may find it not so easy to penetrate the Russian market given these factors," he said.

Russia's soybean production will increase to 1.8 million tons this marketing year, more than double the 744,000 tons it was in 2008-09, according to U.S. Department of Agriculture estimates. Imports are expected to be 800,000 tons, 4.4 percent lower than five years ago, the USDA data show.

Soybean meal output is forecast to rise to about 2 million tons, or 69 percent more than in 2008-09, while imports drop 23 percent to 370,000 tons, the data show. U.S. soybean exports were 37.1 million tons in the 2011-12 season, making the country the largest shipper, according to the USDA. This year, Brazil will be the largest at 37.4 million tons, it said.

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