FLASH Feb 2
Record Crop Seen Boosting Uruguayan Exports in 2022/23
Larger than initially expected production is seen boosting Uruguayan exports of rapeseed to a new high of 400-440 Thd T in 2022/23 ...
Latest official data peg this season’s harvested area at a record 0.35 Mn ha, more than doubling on the year and sharply above 0.11 Mn ha in 2020...
WEEKLY Feb 3
Indonesian Palm Oil Exports up Sharply in Oct/Dec
Exports of palm oil & derivatives continued to sharply exceed the year-ago level by 0.5 Mn T in Dec, boosting the total in Oct/Dec to 9.2 Mn T (up 2.4 Mn T from a year earlier). Palm oil has clearly regained market share in recent months, promoted by the pronounced setback in prices and unusually large price discounts vis-a-vis other vegetable oils...
8 OILS & FATS
MONTHLY Jan 27
World Exports of Veg. Oils Seen Increasing in 2022/23
Expanding world trade on account of increasing supplies and growing consumption for food and energy. Biggest increases in exports of palm oil and sunflower oil....
World production of eight vegetable oils is currently forecast to increase by 7.5 Mn T in Oct/Sept 2022/23. Large production increases are shaping up in palm oil and the major seed oils, contrasting with last season when rapeseed oil output suffered a setback and below-average growth was registered in palm oil and soya oil....However, the supply pressure will probably be mitigated by large increases in world consumption of vegetable oils for food and for production of biofuel....
MONTHLY Jan 27
Global Production Surplus in March/Aug 2023
At 606.8 Mn T, world production of 7 oilseeds will be sufficiently large in 2022/23 to satisfy an above-average growth in world consumption by approximately 16 Mn T and still accomplish a recovery of stocks by 4 Mn T at the end of the season... Latest OIL WORLD statistics in the MONTHLY of Jan 27
FLASH of Jan 25
Change in Biodiesel Legislation Proposed for 2023
Germany’s Environment Minister Steffi Lemke has proposed to phase out the use of crop-based biofuels by 2030 and, instead, increase the use of biofuels produced from used cooking oil as well as from waste and garbage. This would be a significant change, considering that currently approximately half of the rapeseed production in Germany is used to produce biodiesel.
In our opinion, such a drastic change of the German biofuel legislation would severely affect farmers’ income, result in lower prices as well as in reduced plantings and production of rapeseed. .... More details in the FLASH....
FLASH of Jan 24
Chinese Consumption Starting to Recover
Oilseed crushings as well as domestic consumption of oils & oilmeals have started to pick up. However, the pace of the recovery for the remainder of this season is uncertain....Under the lead of palm oil, imports of all oils & fats were boosted by 1.0 Mn T from a year earlier in Oct/Dec 2022...
Oilseed imports rose by 1.9 Mn T to 11.3 Mn T in Dec, following reductions in Oct and Nov....
WEEKLY Jan 20
South American Production Outlook Deterioting
A further deterioration of South American soybean crop prospects occurred during the week in review on account of detrimental weather conditions. Combined production of the 5 major countries is still likely to reach a record of 201 Mn T, but there are still a lot of uncertainties and risk factors which could result in additional downward revisions ...Latest OIL WORLD crop estimates in the WEEKLY...
--- World Market Prices in US-$/T ---
- 945 Mar
- Feb 2
- Palm olein RBD, fob Mal
- 1165 Mar
- Feb 2
- Soya oil, fob Arg
- 586 Mar
- Feb 2
- Soya Meal, fob Arg
- 1178 Mar
- Feb 2
- Rape oil, Dutch, fob ex-mill