Southeast Asia feed demand in Q4 2026: outlook for corn, soybean meal and animal protein ingredients

Bottom line

Based on annual and marketing-year forecasts available in August 2026, MANTA expects Southeast Asian feed demand to remain firm in Q4 2026.

Corn and soybean meal should retain their central roles in regional feed formulations, while feed wheat and DDGS will continue to compete for inclusion according to delivered nutritional value and formulation economics.

There is no single authoritative quarterly feed forecast covering the whole of Southeast Asia. This Q4 assessment is therefore a MANTA forward-looking market outlook, developed from available country forecasts, animal-production trends, aquaculture indicators and expected year-end purchasing patterns.

Livestock-feed demand should remain positive but uneven

The regional outlook is for continued growth rather than a uniform expansion across every country and animal sector.

Rising incomes, urbanisation and consumption of meat, eggs and aquatic foods continue to support commercial-feed demand. OECD–FAO expects lower-middle-income markets, including Southeast Asian countries, to contribute an increasing share of global agricultural consumption growth through 2035.

Thailand provides one indication of the regional direction. The Thai Feed Mill Association projects compound-feed output of approximately 23 million tonnes in 2026. Poultry accounts for about 55% of Thai feed demand, while broiler and swine production are expected to support a gradual increase in corn use.

In Vietnam, USDA FAS forecasts total feed demand at approximately 29.5 million tonnes in 2026, including around 22.77 million tonnes of livestock feed and 6.73 million tonnes of aquaculture feed.

The Philippines is also expected to require more imported feed raw materials. USDA FAS forecasts corn imports of approximately 2 million tonnes in MY 2026/27, supported by demand from poultry, aquaculture, pet food and the recovering hog sector.

For Q4, actual purchasing activity will depend on animal prices, disease conditions, inventories and the timing of feed mills’ coverage for year-end and early-2027 requirements.

Aquafeed remains an important growth engine

Asia — including the major aquaculture-producing countries of Southeast Asia — remains the centre of global aquaculture production.

According to FAO, Asia produced approximately 179 million tonnes of aquatic animals and algae in 2024, of which around 130 million tonnes came from aquaculture.

Southeast Asian aquafeed demand should continue to benefit from shrimp, pangasius, tilapia, marine fish and other farmed-species production.

However, Q4 feed consumption will vary according to:

• stocking cycles;
• water conditions;
• disease pressure;
• farm profitability;
• export orders.

Soybean meal remains an important aquafeed protein. In Vietnam, it can account for a significant share of livestock and aquaculture feed formulations, with aquafeed often using a higher proportion than many livestock diets.

Fishmeal and specialised animal protein ingredients play a different role. Their inclusion is driven not only by crude-protein content but also by digestibility, amino-acid balance, palatability, mineral value and animal performance — particularly in shrimp, marine fish and juvenile diets.

Q4 2026 demand direction by ingredient

Corn and soybean meal remain the volume foundation

Corn should remain Southeast Asia’s principal feed-energy ingredient.

Its Q4 competitiveness will depend on:

• origin;
• freight;
• moisture;
• quality;
• currency movements;
• availability of domestic crops.

Feed mills will continue comparing corn with feed wheat and DDGS.

Substitution should not be determined by price per tonne alone. Buyers need to compare:

• delivered energy;
• protein contribution;
• inclusion limits;
• impact on the complete ration.

Soybean meal should remain the principal protein benchmark because of its availability, established nutritional profile and broad use across poultry, swine and aquaculture feed.

Thailand forecasts soybean demand to rise by around 2% in MY 2026/27, while soybean crush is forecast to increase by approximately 3%.

In the Philippines, mills continue using imported soybean meal and formulation technology to manage feed costs and respond to changes in poultry, aquaculture and swine production.

Animal protein demand could strengthen toward year-end

This is a forward-looking assessment rather than a reported consumption figure.

Potential year-end drivers include:

• feed mills and farms preparing for higher production around holiday and festival consumption;
• continued seafood, poultry and pork demand;
• aquaculture production and preparation for new stocking cycles;
• demand for digestible protein in shrimp, marine-fish and juvenile diets;
• swine and poultry producers focusing on nutritional efficiency and animal performance;
• buyers securing Q4 and early-2027 supply before holiday-related logistics constraints;
• interest in concentrated protein sources where they improve total formulation economics.

The expected increase will not be equal across every animal protein product.

Fishmeal and high-quality specialised proteins may receive stronger support from aquafeed and young-animal applications. Poultry by-product meal, meat and bone meal, blood products and other processed animal proteins may also gain demand where their nutritional value and delivered cost are competitive.

Pet-food manufacturers represent another potential growth channel, particularly for identifiable animal-derived proteins with consistent specifications, palatability and traceable origin.

Strong demand does not mean every product is interchangeable

Animal protein ingredients must be assessed individually.

Commercial suitability depends on:

• animal species and intended application;
• nutrient profile;
• digestibility;
• microbiological safety;
• species identification;
• processing standards;
• approved origin and manufacturing plant;
• import permits;
• veterinary certificates.

Expected demand growth should therefore benefit suppliers able to provide reliable quality, regulatory eligibility and complete documentation — not simply the lowest quotation.

Q4 purchasing signals to watch

1. Poultry placement and slaughter schedules;
2. Hog repopulation and African swine fever conditions;
3. Shrimp and fish stocking, disease and export orders;
4. Corn, soybean-meal, feed-wheat and DDGS landed-price spreads;
5. Fishmeal production, availability and premiums;
6. Freight rates, currencies and holiday shipping schedules;
7. Import eligibility and veterinary requirements for animal protein;
8. Feed-mill inventory coverage for Q4 2026 and early 2027;
9. Changes in formulation economics and feed-conversion efficiency.

Talk to MANTA

Looking for corn, soybean meal, fishmeal or other animal protein ingredients for Southeast Asia?

Send MANTA your product, origin preference, target specification, destination, quantity, documentation requirements and shipment window.

Contact MANTA to discuss commercially available sourcing options.

Frequently asked questions

Will Southeast Asian feed demand increase in Q4 2026?

There is no single official regional Q4 forecast. Based on current annual and marketing-year forecasts, MANTA expects regional feed demand to remain firm, with performance varying by country and animal sector.

Which raw materials should experience the strongest demand?

Corn and soybean meal should remain the largest-volume ingredients. Feed wheat and DDGS may gain inclusion where their delivered nutritional value is competitive.

Will demand for animal protein ingredients increase?

MANTA expects selected animal protein ingredients to see stronger buying interest toward year-end, particularly in aquafeed, young-animal diets, specialised livestock feed and pet food. This is a forward-looking assessment, not confirmed Q4 consumption data.

What are animal protein ingredients?

Animal protein ingredients are processed feed materials of animal origin, including fishmeal, meat and bone meal, poultry by-product meal and blood meal. Their permitted use depends on local feed and veterinary regulations.

What will buyers require from animal protein suppliers?

Buyers typically require consistent specifications, microbiological safety, species identification, traceability, eligible origin, appropriate veterinary or health documentation and reliable shipment execution.

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