Rapeseed and sunflower oils will be the main drivers of growth in exports. Trade in sunflower oil is set to increase by 15 per cent, driven by exports from Ukraine and Russia. India and China will be the main importers of this product. Rapeseed oil exports are set to rise by 8 per cent – also driven by supplies from Russia and Ukraine, as well as a significant increase in supplies from Canada and Australia. The greatest demand for these products is expected from the US and China.
Soybean oil shipments will rise by just 1 per cent, whilst palm oil exports may fall by approximately 2 per cent. Global palm oil production is estimated at 81.1 million tonnes, and soybean oil production at 75.1 million tonnes.
Global oilseed processing is forecast at 549.8 million tonnes, which is 22.6 million tonnes more than in the previous season.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
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