In 2017/18 MG increase the volume of world oilseeds proposals
According to the forecast of analysts of Oil World, in the 2017/18 season, the world production of 10 major oilseeds will be 557,2 million tons, slightly inferior record compared to the current season 558,1 million tons.
soybean Production will be reduced by 4.3 million tonnes to 343,9 million tons and sunflower seed by 1.4 million tonnes to 46.8 million tonnes due to the decrease in the yield of these crops in Brazil, USA, Ukraine and Russia.
Despite a likely reduction in the yield of rapeseed in Australia and Canada, its production will increase by 1.6 million tonnes to 64.7 million tonnes and is expected to increase production in the segment of oil palm and other crops.
in General, in comparison with the current season the volume of world oilseeds proposals in 2017/18 MG will grow by 19.5 million tons to a record 670,6 million tons And because global production will slightly exceed consumption, world ending stocks will grow by 1.6 million tonnes to 115 million tonnes.
Prices for oilseeds continue to decline . Traders are more concerned than the increase sentences, and reduced demand from major importers.
Chinese buyers began to refuse the supply of soybeans, primarily from Brazil. Last week was canceled delivery of five cargoes, three more goods were resold to neighboring countries.
At the beginning of the year, China has stepped up imports of soybeans on the background of falling prices, caused by a record harvest of oilseeds in Brazil. At the same time from the state reserves was implemented, a significant amount of rapeseed oil. Excess vegetable oils in the domestic market affected the domestic prices and impact on manufacturing industry.