World Production of Rapeseed & Canola Set to Rise Steeply by 6-7 Mn T in 2007/08

The following are the headlines of the respective OIL WORLD WEEKLY. The full textual report plus the statistical sections can be downloaded/received each week by subscribers or purchased individually.

• In 2007/08 world production of rapeseed & canola is likely to rise steeply by 6-7 Mn T to 53-54 Mn T, representing an increase by as much as 20 Mn T within just 5 years…
• We expect EU rapeseed crushings to reach a record 17.6 Mn T in July/June 2007/08, but rapeoil demand is currently the limiting factor. EU rapeseed stocks may rise to 1.5-2.0 Mn T as of end-June 2008…
• China boosted combined imports of palm oil, soya oil and rape oil by more than 600 Thd T compared to a year ago in Oct/Feb 2006/07…
• World imports of sesameseed increased by 12% on the year to a record 1.0 Mn T in Jan/Dec 2006, driven by China. Reduced export supplies will curb the trade volume in 2007…
• Indian soya meal has appreciated by 11% since January and lost competitiveness vis-a-vis South America. Indian exports will decline sharply in April/Sept, linked to strong domestic demand…
• Pakistan is likely to boost combined imports of oilseeds to a record 1.0 Mn T in Oct/Sept 2006/07, of which sunseed 0.3 Mn T…
• Argentina raised estimate of this year’s soybean crop to 45.6 Mn T but lowered the sunseed crop forecast to 3.5 Mn T…
• In Germany biodiesel has regained some price competitiveness versus mineral diesel so far in March, in line with the recent decline in rape oil prices…

(Cf. news of 2007-02-20.)

Source

Oil World, 2007-03-23.

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