Global Deficit of Production of 7 Oilseeds

Relative to Consumption Has Widened Further

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  • Prices of oilseeds and vegetable oils have rallied to new all-time highs owing to aggravating production deficits. This week soybeans touched US $ 500 in Rotterdam. Soya oil is $ 1055 in Argentina and $ 1165 in Rotterdam. EU rape oil at $ 1182 . Soya meal following and pulled up to $ 400 in Rotterdam (Arg, 44/45%)…
  • World stocks of 7 oilseeds are likely to plunge by 20 Mn T in 2007/08 due to unprecedented production deficit. Most of the decline in soybeans and rapeseed…
  • The world market’s dependence on soya oil and meal will increase in 2007/08, due the shortages in the sunflower & rape complexes. World soybean crush set to jump by 15 Mn T in Sept/Aug 2007/08. But a substantial decline of 19 Mn T in northern hemisphere soybean production and a prospective below-average growth of 3 Mn T in South America will create an unprecedented shortage in 2007/08. Concern about 08/09…
  • World consumption of 8 vegetable oils is set to exceed production in 2007/08 in the second consecutive year. Production growth of 6.8 Mn T cannot prevent further decline in stocks. With opening stocks of 8 oils down by 1.2 Mn T, the growth in world supplies will be curbed to 5.6 Mn T in 2007/08, while consumption is likely to rise by 6.4 Mn T…
  • Limiting the bullishness are prospects for a sharp increase in world palm oil output by 3.6 Mn T to 41.0 Mn T in Oct/Sept 2007/08. But current stocks are low…
  • China has accelerated its buying wave in oilseeds and oils. Also soya meal purchases likely…
  • Driven by the growing demand for livestock products and tight supplies of other feedstuffs, world demand for soya meal is rising sharply. Satisfaction of high demand in Asia & Europe is logistically difficult…

(Cf. news of 2007-05-30.)

Source

Oil World, 2007-11-23.

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