Oil World have increased the forecast of oil production in 2018/19 Mr

In a December report, the experts of Oil World estimated the global production of oilseeds in 2018/19 MG level 586,4 million tonnes, which is 21 million tonnes higher than the figure recorded the previous season. And also downgraded the annual growth of world consumption of oilseeds to 9.4 million tonnes, down from 22.9 million tonnes in 2017/18 MG. As a consequence, ending stocks of oilseeds in 2018/19 MG will increase by 12.8 million tonnes and will amount to 124.7 million tons.

in Particular, world soybean production will increase by 25.2 million tonnes to 366,5 million tons, while in November it was estimated at 365,8 million t. However, unfavourable weather conditions in South America, namely drought in Brazil and excessive rains in Argentina may make certain adjustments to estimates of harvest for these countries in the next report.

the Forecast of world production of sunflower due to the increase in gross harvest in Russia and Ukraine increased to 52.3 million tons, 2.8 million tons will exceed the level of previous MG. The processing volumes of sunflower seed in the current season will grow by 2.1 million tons to 47.1 million tonnes.

Estimate world production of rapeseed and canola in comparison with the November report decreased from 64,1 to 63 million tonnes, which will be greatly to yield a crop the previous season – up to 66.5 million tons For EU countries, the production forecast for rape decreased by 2.3 MMT, Canada up 1 million tons, Australia – 1.4 million tons, India – 300 thousand tons.