OIL WORLD

17 OILS & FATS

MONTHLY Sept 16

Transition to Ample Supplies and Rising Usage is Underway

Sizable growth in world supplies of palm oil and seed oils. Consumption will be promoted by lower prices but is partly limited by poor economic growth....

The recent upward revisions of oilseed production estimates are setting the stage for a significant improvement in vegetable oil output. We now expect world production of 17 oils and fats to increase sharply by 6.9 Mn T in 2022/23, significantly exceeding the growth rates registered in the latest two seasons.... Latest OIL WORLD estimates in the OIL WORLD Monthly....

10 OILSEEDS

MONTHLY Sept 16

Oilseed Production Forecast to Rebound by 34 Mn T in 2022/23

....Global production surplus anticipated. Stocks likely to recover by 10 Mn T. But many uncertainties complicate the outlook....

Lower than expected soybean production in the USA raises the global dependence on increasing South American supplies in the 2022/23 season....The annual growth in oilseed consumption is likely to accelerate to 17 Mn T in the new season compared with an increase of 7 Mn T in 2021/22, mainly on account of soybeans as well as rapeseed & canola....

INDIA

WEEKLY Sept 9

Veg. Oil Consumption Seen Recovering in 2022/23

The steep decline of prices, primarily in Indonesia, has triggered a strong increase of Indian palm oil imports ....The fading impact of Covid-19, pent up demand and substantially lower prices are expected to promote a further uptrend of Indian vegetable oil consumption next season....

The forecast further increase of Indian vegetable oil production by 0.3 Mn T in Oct/Sept 2022/23 will probably materialize only if improved farmer selling allows domestic processors to work profitably amidst the expected strong competition from foreign vegetable oil suppliers...

SUNSEED & OIL

WEEKLY Sept 2

Prices of Sunseed & Oil Under Pressure on Rising Export Supplies

World exports have started to increase. For July/Sept we estimate exports of sunflower oil from five selected countries to rise by 0.4 Mn T or 23% from a year earlier, with biggest increases in exports from Russia, Ukraine and Bulgaria...

World production of sunflowerseed is now forecast at 53.4 Mn T in 2022/23. Large carryover stocks of sunflowerseed at the start of the new season in Ukraine, Russia and the EU-27 (primarily Bulgaria), will raise world supplies 0.7 Mn T above last season....

CANADA

WEEKLY Aug 26

Canola Disposals Set to Recover Sharply in 2022/23

If weather cooperates and our current production estimate materializes, Canadian canola prices are set to weaken in coming weeks and months in order to revive world import demand.....

Demand developments in China will determine Canadian canola disposals in 2022/23. However, it is important to understand that a sizeable increase in Chinese canola imports will indirectly reduce world import demand for Canadian canola oil and meal, limiting the growth potential in canola crushings in the next twelve months....

EU-27

WEEKLY Sept 26

Oilseed Crushings Set to Increase in 2022/23

This year’s bumper rapeseed crop and ongoing large Ukrainian sunflowerseed supplies available for processors in Eastern Europe are setting the stage for a sizeable increase in European oilseed crushings in July/June 2022/23...

Tight old-crop supplies, logistical constraints and early maintenance reduced EU rapeseed crushings to a 9-year low of only 1.27 Mn T in June (down 16%), limiting the total to only 4.6 Mn T in Apr/June 2022 (down 13%)...

GROUNDNUTS

WEEKLY Aug 26

Chinese Import Demand Seen Increasing in 2022/23

The looming sharp decline in Chinese groundnut production is creating uncertainty in the global groundnut market regarding the extent to which Chinese groundnut import requirements will increase in 2022/23, following the pronounced setback during the past 12 months....

Groundnut exports of five key countries declined by 17% in Oct/June 2021/22, with most of the decline in exports to China and Russia...

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OIL WORLD ANNUAL 2022

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--- World Market Prices in US-$/T ---