With small increase in yield and area, palm oil production is forecast to moderately increase to 20.35 million tons in 2014/15. Exports are projected to grow only marginally as the palm oil discount to soybean oil is expected to narrow in 2014/15. Palm oil imports are forecast to continue falling as exportable supplies from Indonesia dwindle. Soybeans remain the top U.S. oilseed export to Malaysia, with expected exports of more than 340,000 tons in 2013/14. Argentina remains the leading soybean meal supplier, with more than 95 percent market share. With marginal growth in broiler industry expected in 2013/14, demand for meal is forecasted to grow slowly in line with demand from the feed industry.
