Vegetable oil production projected to reach a new high

February 25, 2018 |

In Germany, UFOP reports that the U.S. Department of Agriculture expects global vegetable oil production to hit a new record at 197 million tons in 2017/18. The increase in palm oil, but also soybean oil production will be particularly sharp.

According to the USDA forecast, 2017/18 world vegetable oil production will probably go up more than 4% from the previous year to a record level of 197 million tons. Palm, soybean, rapeseed and sunflower oil account for around 87 per cent of the rise. The biggest growth, at 7.6 per cent, is expected for palm oil. Favorable growing conditions in Southeast Asia and a surprisingly fast recovery of palm oil plantations after the excessively dry previous year contributed to the increase in output.

Production of soybean oil is estimated to climb 3.%. Soybeans benefited from an ample availability of feedstock from the global record soybean crop in 2016/17 and continued brisk international demand. However, production of rapeseed oil is expected to see only a slight rise of 0.5 per cent.

Category: Fuels

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