World palm oil production at 38.0 Mn T…

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  • World production of 7 oilseeds is likely to turn out approximately 9 Mn T below disappearance in 2007/08, enforcing a corresponding decline in world stocks. But changing weather conditions in coming months could change current crop estimates quite decisively….
  • World production of soybeans is likely to decline by 6.5 Mn T, according to our first global projection for next season. A sharp increase by 5 Mn T is forecast for rapeseed & canola, but a reduction in sunflowerseed and cottonseed….
  • Growth in world demand for 8 oils is forecast to slow down to 6.6 Mn T in 2006/07, versus 8.4 Mn T the year before, owing to unusually high prices. Still, stocks are estimated to decline by 0.8 Mn T, following sharp increases in the preceding two seasons….
  • The palm oil supply cycle is changing towards a deficit of production by about 0.5 Mn T relative to consumption in 2006/07. This is a major change from the preceding three seasons, when world production exceeded consumption by an average 0.7 Mn T per annum.
  • The growth in world production and usage of 8 oilmeals is seen slowing down to around 9 Mn T this season, compared to almost 11 Mn T in 2005/06. The increase in output and consumption of soya meal is expected to accelerate, but that of the other 7 oilmeals is expected to slow down notably. …
  • The EU-27 accounts for around 45% of world soya meal imports this season. Arrivals in the EU are pegged at 24.6 Mn T in Oct/Sept 2006/07, up 0.85 Mn T from a year before…

(Cf. news of 2007-04-24.)


Oil World, 2007-05-25.


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