WEEKLY July 3
Edible Oil Price Index Up in June
The edible oil price index recovered noticeably in June by 10 percentage points. It is the first recovery following a significant price setback in four consecutive months. The price recovery was mainly on account of the 4 major vegetable oils, i.e. palm oil, soya oil, sun oil and rapeseed oil. Prices of the individual oils are weighted by their share in world trade and are compared to the average of 2015-2019...
Monthly average prices for oils & fats for the past 10 years have also been updated until June, click here to order ...
WEEKLY July 3
Oilseed Plantings at 7-Year Low in 2020
Plantings of the five major oilseeds have reportedly dropped to a 7-year low of 11.0 Mn ha this spring (down 0.4 Mn ha or 3.5%), losing acreage to grains (primarily barley and durum wheat) and lentils...While sowings of canola slightly exceeded intentions, soybean and flaxseed plantings were even smaller than previously indicated...
Exports of canola oil reached an all-time high of 341 Thd T in May, reflecting strong US and Chinese import demand....The record pace of Canadian canola crushings in recent months also kept canola meal exports elevated in May, exclusively destined for the US and China. Thus, Canadian processors continue to benefit from the still unresolved trade conflict with China...
WEEKLY June 26
Biodiesel Production Set to Drop 2.8 Mn T in 2020
The biofuel markets are severely affected by the coronavirus pandemic: Movement restrictions are reducing total fuel consumption and unusually low crude mineral oil prices are hurting the competitiveness of biofuels. These factors are seen resulting in a sharp decline of world biodiesel production, representing only the second setback after 2015... Latest estimates in the FLASH.
There are still many uncertainties, particularly the length and magnitude of below-normal fuel consumption. Also the determination of the governments in Indonesia and elsewhere to pursue their biodiesel admixture targets even at rising costs relative to fossil diesel is a factor to watch....
Order Your OIL WORLD ANNUAL 2020 Now!
The OIL WORLD ANNUAL is a unique encyclopedia of world forecasts and statistics for all major oilseeds, oils and fats as well as oilmeals. On more than 700 pages this comprehensive yearbook contains profound textual analyses, statistics and graphs for the latest five calendar years as well as for five Oct/Sept seasons. The ANNUAL also provides our first global supply and demand projections for oilseeds, oils/fats and oilmeals for the season 2020/21.
In a special price section the reader is informed about monthly and annual world market prices and price relationships of the individual oilseeds, oils and oilmeals. The major price-making factors are analysed and on this basis an assessment is given for the price prospects of the key commodities on the world market.
FLASH June 24
Castor Prices Under Pressure
The clear-cut improvement of Indian castor production contrasted with considerably lower than expected demand for castor oil in recent months. The repercussions of the COVID-19 crisis on processing and transportation in India as well as on industrial production in the importing countries are reflected in relatively low exports from India so far this year....
MONTHLY Jun 19
Ample World Oilseed Supplies Anticipated for 2020/21
Under the lead of soybeans world oilseed production is currently anticipated to rebound by 31.7 Mn T next season on the assumption of rising oilseed plantings and about normal weather conditions in key growing areas. Also global demand has started to pick up....
A global production surplus is likely to occur in the 2020/21 season. With our estimate of world consumption of 10 oilseeds of 584.6 Mn T (up 12.4 Mn T from this season), world stocks at the end of the season are likely to recover by around 7 Mn T to 123.4 Mn T. Virtually all of this increase will be on account of soybeans....
17 OILS & FATS
MONTHLY Jun 19
The Extent of the Demand Recovery Key in 2020/21
The lingering effects of the COVID-19 crisis will curtail disposable incomes, limiting expenses for food primarily in developing countries. This is seen curbing the prospective uptrend in world consumption of oils and fats somewhat. The large demand losses stemming from the lockdowns in the first half of 2020 should to a large extent be recouped next year and the effect of population and income growth on per capita consumption of oils and fats should reassert itself.
Production of biodiesel is expected to rebound significantly in 2021, driven by a gradual normalization of road traffic. Improving price competitiveness of biofuels should facilitate the fulfilment of biodiesel admixture mandates next season....
World production of 17 oils and fats may be boosted by about 8.2 Mn T to a record 242.8 Mn T in Oct/Sept 2020/21, following the unusual setback by an estimated 2.0 Mn T in 2019/20...
--- World Market Prices in US-$/T ---
- 329 Ag
- July 2
- Soya Meal, fob Arg
- 383 Jy/Ag
- July s
- Soybeans U.S., cif Rotterdam
- 585 Jy
- July 2
- Crude Palm Oil, fob Indo
- 1480 Jy/Ag
- July 2
- Fish Meal (super-prime), fob Peru