USDA predicts increased production and consumption of vegetable oils in the new season

2021-05-14 12:08:47
Machine translation
USDA predicts increased production and consumption of vegetable oils in the new season

< span style="font-size:14px;" > according to the May USDA report, in 2021/22 MG, global vegetable oil production will grow by 4% compared to the current season, and global consumption – by 3%, as a result of which the final reserves of vegetable oils will be reduced to the lowest level since 2010/11 MG.

 

< span style="font-size:14px;">a 4% increase in vegetable oil consumption by biodiesel producers and a recovery in food demand will keep prices at a high level.

 

< span style="font-size:14px;" > according to USDA forecasts, in 2021/22 the volume of trade in vegetable oils will be a record due to the resumption of sunflower oil production.

 

< span style = " font-size: 14px;">the global sunflower harvest in my 2021/22 is expected to grow by 5.22 million tons to 54.92 million tons compared to the current season, and sunflower oil production – by 1.96 million tons to 21.15 million tons, in particular:< / span> < / p>

  • < li> < span style = " font-size: 14px;">in Ukraine, sunflower production in my 2021/22 will increase by 18% or 2.6 million tons to 16.7 million tons compared to the 2020/21 season, and sunflower oil – by 18% from 5.934 to 6.99 million tons,< / span> < / li>
  • < span style="font-size:14px;">in Russia, sunflower production will grow by 1.23 million tons to 14.5 million tons, and sunflower oil-from 5.14 to 5.49 million tons,< / span> < / li>
  • < span style="font-size:14px;">in the EU, sunflower production will grow by 1.15 million tons to 10 million tons, and sunflower oil – by 0.32 million tons to 3.78 million tons.< / span> < / li>

 

< span style="font-size:14px;" > at the same time, the volume of global rapeseed supply in 2021/22 MG will remain limited and will correspond to the level of the current season. Low initial stocks of rapeseed, even in the event of a slight increase in production, will not meet the needs of the market, so the final stocks will be reduced to the lowest level in 20 years.

 

according to the forecast, global rapeseed production in 2021/22 MG will grow from 71.4 to 73.2 million tons compared to the current season, in particular in Canada – by 1.5 million tons to 20.5 million tons, the EU – by 0.43 million tons to 16.6 million tons, Ukraine – by 0.2 million tons to 3 million tons and the United States – to 1.8 million tons, which compensates for the decrease production in Australia up to 0.5 million tons

 

< span style="font-size:14px;">global palm oil production will also grow in 2021/22 MG, especially in Indonesia. Increased demand due to lower prices for palm oil than for soybean and sunflower oil will lead to a slight reduction in Final stocks in the new season.

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