USDA arm pegs Pakistan 2018-19 soybean imports at record 2.5 mln tn.

The Foreign Agricultural Services of the US Department of Agriculture has projected Pakistans soybean imports at a record 2.5 mln tn in 2018-19 (Oct-Sep), compared with 2.0 mln tn produced last year. Soybean imports surged due to lower import duty on oilseed and increased duty on soymeal. Soymeal is made by crushing soybean and is used as a poultry feed. Improved demand for soymeal from poultry industry and rising consumption of protein-rich food also boosted demand for the oilseed from domestic crushing plants.