World palm oil production in 2017/18 MG will grow by 4.5 million tonnes
In season 2017/18, the world production of palm oil will grow less than previously expected, but experts estimate the increase at 4.5 million tonnes, According to forecasts of the head of one of the largest trading companies of Godrej International Limited Daraba E. Mistry, Malaysia will produce the 19.1-19.3 million tons of oil, and Indonesia – 34-34. 5 million tons.
Global demand for palm oil will remain fairly high, including due to the significant premium between palm and soybean oil. Export shipments of palm oil in the beginning of the season is already significantly higher than last year, so despite the increase in production ending stocks will grow immaterial.
Stable demand for palm oil will support the projected reduction of sunflower oil production in the CIS countries, whereas the volume of production of rapeseed oil will remain unchanged because of the uncertainty with the fate of the canola crop in Canada and Australia.
the Largest buyer of palm oil in 2017/18 MG will be India, which annually imports an estimated at 9.85 million tonnes of palm oil and 600 thousand tons of other types of vegetable oils.
will Significantly increase the import of palm oil to China, where he completed a state program for the implementation of internal reserves of rapeseed oil, which lasted for 2016/17 MG.