World Exports Set to Decline Seasonally

World exports of sunflower oil have peaked and have started to decline seasonally and will be falling below the year-ago level from June onward, which has already started to be reflected in a strengthening of sun oil prices relative to soya oil and palm oil. In the second half of this season world exports of sunflower oil are seen falling slightly below the year-ago level by 0.2-0.3 Mn T in contrast to a substantial year-on-year increase in Oct/March 2023/24....

Chinese Soybean Imports Revised Upward

We estimate total Chinese soybean imports at 47.4 Mn T in Oct/March 2023/24, which is a new high and 2.3 Mn T above a year earlier. Reported Chinese import data are much lower at only 41.5 Mn T. We consider the reported imports of US soybeans to be incomplete and assume that actual imports were approximately six million tonnes higher at ...in Oct/March 2023/24...

Rising Demand for non-GM Soybeans is Boosting Production Africa

Production of soybeans in selected African countries increased sharply to a record of an estimated 6.5 Mn T in 2022/23, compared to 2.5 Mn T ten years earlier....Soybean exports of key African countries reached a record 1.8-1.9 Mn T in Jan/Dec 2023, more than a doubling within two years.....

EU Imports Set to Rise in 2024/25

EU import requirements of rapeseed & canola are set to rise in 2024/25 to offset sharply reduced supplies at the start of the season....We have lowered our EU rapeseed crop estimate to 18.3 Mn T in 2024, a downward revision of 0.5 Mn T from our estimate a month ago and down 1.7 Mn T from last year’s production.....Sharply reduced old-crop stocks will further tighten supplies...

 

World Production of Biodiesel Pegged at 62.5 Mn T in 2024

World production of biodiesel/HVO is forecast to increase by 3.7-3.8 Mn T to a record 62.5 Mn T in Jan/Dec 2024, driven upward by supportive policies mainly in key producing countries of oilseeds and vegetable oils such as the USA, Brazil and Indonesia. The biofuel sector was responsible for the bulk of the demand growth in the oils and fats market during the past four seasons, by far exceeding rather sluggish demand growth in the food sector...

Production Deficits Seen Developing in April/Sept 2024

Ample supplies of sunflower oil offsetting tightness in palm oil and soya oil so far this season. Pent-up demand has developed in key importing countries....

In the full season 2023/24 the increase in production of the 17 major oils and fats is expected to diminish to around 4.3 Mn T, less than half the increase registered last season. This reflects primarily the dwindling growth of palm oil production in Indonesia, of soya oil in Brazil and of sunflower oil in Russia....

Oilseed Crushings Accelerating Worldwide in 2024

We have raised our estimate of world crushings of 10 oilseeds to 127.3 Mn T in Jan/March 2024, 7.2 Mn T or 6.0% above the depressed level of a year earlier. Earlier expectations were exceeded in soybeans (mainly in the USA, Argentina, Brazil and China) as well as in sunflowerseed (in Russia, Ukraine and Argentina)...

Demand for seed oils turned out higher than expected, partly due to declining production and export supplies of palm oil and .... More details in the MONTHLY...