In the June report, USDA FAS experts made only minor changes to the world oilseed balance for the 2026/27 MY, but increased the estimate of the soybean harvest in the current season, which increases pressure on world quotes.
The forecast for global oilseed production in the 2025/26 MY has been increased by 2.15 million tons to 700.65 million tons. The main reason was the increase in the estimate of the soybean harvest in Argentina by 2 million tons to 50 million tons. At the same time, the Rosario stock exchange has already increased its own forecast to 51.5 million tons, which may indicate a further increase in carryover stocks at the beginning of the new season.
The forecast for global oilseed production in 2026/27 MY has also been revised upwards by 0.1 million tons to a record 718.2 million tons. For comparison, in 2025/26 MY production is estimated at 700.65 million tons, in 2024/25 MY — 686.65 million tons, and in 2023/24 MY — 657.5 million tons.
The growth was primarily driven by an increase in the forecast for sunflower production by 0.3 million tons to 62.06 million tons, while the soybean harvest estimate was reduced by 0.2 million tons to 441.34 million tons.
The forecast for global oilseed processing in 2026/27 MY has been increased by 0.1 million tons to 606.74 million tons compared to 587.5 million tons in 2025/26 MY, 568.9 million tons in 2024/25 MY, and 543.74 million tons in 2023/24 MY.
World ending stocks of oilseeds in 2026/27 MY increased by 0.26 million tons to 146.99 million tons. For comparison, in 2025/26 MY they are estimated at 146.57 million tons, in 2024/25 MY — 144.4 million tons, and in 2023/24 MY — 136.1 million tons.
Following the report, July soybean futures in Chicago fell 0.7% to $409.7/t, down 10% from the May report. Meanwhile, November contracts are trading $7/t higher than July contracts.
The forecast for global sunflower production has been increased by 0.3 million tons to 62.06 million tons, compared to 55.25 million tons in 2025/26 MY and 53 million tons in 2024/25 MY.
In particular, the production forecast for the Russian Federation has been increased by 0.3 million tons to 19.5 million tons, compared to 17.5 million tons and 16.9 million tons in the previous two seasons. The forecast for Ukraine has been left unchanged at 13.5 million tons, compared to 11 million tons and 13 million tons in previous years.
Polish biofuels producer ORLEN has launched a plant to produce hydrotreated vegetable oil (HVO) in Płock, Poland.
The facility, which involved an investment of PLN 800M (US$218M), had a capacity to produce approximately 300,000 tonnes/year of HVO from rapeseed oil and used cooking oil (UCO) or their mixtures, the company said on 25 May.
The commissioning of the plant increased the ORLEN Group’s production potential to approximately 700,000 tonnes/year of biofuels, with plans to increase to 1.1M tonnes by 2030.
“The launch gives ORLEN more control over a key area of the biofuels market. We are increasing our own production of advanced bio-components, strengthening cost efficiency and becoming independent of the volatility of the external market,” said Ireneusz Fąfara, president of the ORLEN management board.
The company has also established two diesel hydro-desulphurisation units in Płock for the co-hydrogenation of vegetable oils, which would increase rapeseed and UCO processing by over 100,000 tonnes/year.
In addition, ORLEN said it was developing a “Catch crops for biofuels” programme, to integrate farmers, industry and technology partners in supporting the development of domestic raw materials – particularly for second-generation biofuels – which would ultimately power the HVO plant.
ORLEN supplies energy, fuel and petrochemical products in more than 100 countries. The company’s activities include oil and natural gas extraction, the processing and sale of petroleum products and energy generation and distribution.
ORLEN aims to achieve carbon neutrality by 2050 and by the end of 2035, the company plans to invest more than US$90bn in strategic projects, of which approximately 40% will be allocated to low-carbon investments, in areas such as offshore and onshore wind energy, photovoltaics, biogas and biomethane, biofuels, electromobility, CO₂ capture, utilisation and storage (CCUS) technologies, low-carbon and renewable hydrogen, and synthetic fuels.
MUMBAI – India's import of vegetable oils, comprising edible and non-edible oils, rose 8% to 1.37 million tonnes in May from 1.27 million tonnes a year ago, according to data released by the Solvent Extractors' Association of India Friday. Total edible oil imports in May rose to 1.34 million tonnes from 1.25 million tonnes a year ago.
Imports of crude palm oil in May rose to 546,456 tonnes from 505,744 tonnes a year ago. Crude soyoil imports rose to 493,854 tonnes in May from 398,585 tonnes a year ago, while crude sunflower oil imports increased to 295,726 tonnes from 183,555 tonnes, the association said.
India's edible oil imports in May increased by 2.4% from a month ago, driven primarily by higher crude soybean oil imports as the price premium of soybean oil over palm oil narrowed, improving soybean oil's competitiveness, SEA said.
Crude palm oil imports during Nov-May were 4.5 million tonnes compared with 2.5 million tonnes a year ago, it said. India's crude soyoil import during the same period fell to 2.6 million tonnes from 2.7 million tonnes a year ago, according to the association. During Nov-May, the country imported 1.8 million tonnes of sunflower oil, up from 1.7 million tonnes a year ago.
Effective Jun. 1, the government has revised import tariff values, raising the tariff value of crude palm oil to $1,218 per tonne and RBD Palm Oil to $1,222 per tonne, while slightly reducing the tariff value for crude soybean oil, SEA said.
Indonesia and Malaysia were the dominant suppliers of palm oil to India. Argentina emerged as the largest supplier of soybean oil, followed by Brazil. Russia, Argentina and Ukraine were the major sources of sunflower oil imports, SEA said.
As of Jun. 1, domestic edible oil stocks at ports were 939,000 tonnes, up from 685,000 tonnes a year earlier. Pipeline stocks rose to 1.3 million tonnes from 648,000 tonnes, the association said.
The current scramble for biofuel feedstock amid high oil prices could see global biofuel consumption grow by 30% this year and a staggering 70% by 2030, according to new research from T&E.
This could put serious pressure on global food prices, as oil prices have already peaked after 2022. Prices for most food commodities, especially oil, have been rising for three straight months, repeating a trend seen since the start of the Russia-Ukraine war in 2022.
At the same time, exporting nations such as Brazil and Indonesia are restricting exports of key crops for biofuels. With agricultural production expected to decline due to fertilizer shortages, global food supplies are at risk of rapidly depleting.
Biofuel production already accounts for 5% of global fertilizer, but biofuels account for only 4% of global fuel turnover. Any increase in biofuel production will create additional pressure on a market that has been severely affected by the blockade of the Strait of Hormuz.
Global vegetable oil prices remain under pressure from increased soybean oil supply and lower oil prices, which are limiting demand from the biofuel industry and reducing prices. Good weather is supporting the development of rapeseed crops, which could increase rapeseed oil supply as early as next month.
In recent months, the main driver of prices has been Chicago soybean oil quotes, but over the past 7 days, July SWOT soybean oil futures have completely lost the previous week's growth and fell by 4.8% to $1,650/t (+1.5% month-on-month) against the backdrop of a collapse in soybean quotes and an increase in supplies of soybeans and soybean products from South America. The lack of Trump's promised increase in exports to China is returning soybean quotes to the levels of last fall. July soybean quotes fell by 10% to $410/t over the month, and are trading at the level of early February.
Soybean oil prices in Daylian (China) for June delivery decreased by $15-20/t to $1,235-1,240/t in a week, while on the spot market, soybean oil prices in Brazil fell by $40-50/t to $1,210-1,240/t FOB, and in Argentina - by $20-30/t to $1,180-1,220/t FOB.
Soybean oil prices in Europe also decreased by $40-50/t to $1,250-1,260/t FOB Rotterdam.
July palm oil futures on Bursa Malaysia were trading at RM4,528/tonne during the week, but dollar prices fell 1.7% to $1,116/tonne due to a stronger ringgit as the market is under pressure from reduced exports. Local surveyors estimate that Malaysian palm oil exports fell 8.8% to 15.5% month-on-month in May. The Malaysian Palm Oil Board is expected to release its monthly supply and demand report today, with inventories expected to rise again. Falling oil prices will also put pressure on palm oil prices.
August Brent crude futures fell 4.9% to $91.5/barrel during the week on Trump's promises to conclude a deal with Iran in the near future, despite the military escalation between Iran and Israel with the US in the past few days.
Over the past week, sunflower oil bid prices in India remained at $1,410-1,420/t CIF Mumbai, but Russian sunflower oil bid prices fell by $10-15/t to $1,285-1,290/t FOB, while Argentine oil prices fell to $1,250-1,280/t FOB due to a sharp 32% drop in sunflower oil demand from India in May.
Demand prices for Ukrainian sunflower oil delivered to Black Sea ports decreased by $5-10/t to $1,320-1,325/t in a week, but there is a supply shortage on the market, as new shelling of oil extraction plants occurred last week.
The supply of sunflower oil in Ukraine is decreasing, as a limited number of plants continue to process sunflower, and a significant number of enterprises have begun prevention and preparation for the new rapeseed season.
The European Union (EU) is expected to approve new rules allowing advanced genetic editing (GE) techniques to be applied to a range of crops, according to an Olive Oil Times report.
If approved, the regulation would bring potential benefits including improved resilience to drought, pests and disease, Olive Oil Times wrote.
Presented by the European Commission (EC), the regulation had been approved by the European Council and a major committee of the European Parliament, the 20 May report said.
Amendments introduced by the Socialist centre-left group were the last obstacle to the new regulation and the final plenary vote appeared to have been unofficially delayed while lawmakers worked to resolve outstanding concerns, Olive Oil Times wrote.
The goal of the new regulation was to improve crop resilience to climate-related impacts by creating a faster pathway for developing resilient plants via GE techniques, according to the report.
If approved as expected, a 24-month grace period would allow the EC to fine-tune operational aspects, the report said.
Full implementation could be in May 2028, when breeders would be able to formally submit their varieties.
New genomic techniques in the First Category (NGT-1) were being deregulated, including more than 20 genetic modifications that could naturally occur in crop varieties or could be obtained through traditional cross-breeding.
While conventional breeding relied on the “lottery” of natural reproduction, NGT-1 allowed direct, targeted changes. This approach could reduce the number of years required to develop new resilient varieties, Olive Oil Times wrote.
“The mutations induced through editing are fundamentally equivalent to natural mutations that already form the biological basis of biodiversity,” Luigi Cattivelli, director of the Genomics and Bioinformatics Research Center at Italy’s Council for Agricultural Research and Economics (CREA), told Olive Oil Times.
Cattivelli cited high-oleic sunflower oil as an example of how genetic modification techniques were already present in daily food production. Developed through traditional mutagenesis, high-oleic sunflower oil contains a higher level of oleic acid, making it more stable during industrial frying.
Kernel is developing its own sunflower oil brand in Europe, launched in 2024 in partnership with Dutch food distribution company Fangoo&Zon Impex. To date, 5.5 million liters of products have been sold in the Netherlands under the Bestolie&Kernel trademark.
This was reported by the company’s press service.
It is noted that during this period, Kernel has not only increased sales but also expanded its product range by introducing new packaging formats and frying oil for the HoReCa segment.
The launch of the Bestolie&Kernel brand was a logical step. Previously, Kernel produced oil for Fangoo&Zon Impex under a private label arrangement (under the distributor’s brand). The updated partnership model enabled the creation of a complete value chain — from Ukrainian fields to European consumers. Kernel is responsible for production and quality control at every stage, from seed to finished oil, which is confirmed by ISO 9001 and ISO 22000 certifications. In turn, Fangoo&Zon Impex manages distribution on the local market.
«The European market is highly competitive and ‘closed’ to new brands. It is dominated by major international FMCG companies and supermarket private labels. Getting shelf space is difficult, and maintaining it is even harder. Therefore, it is important for us that Bestolie&Kernel has already been present on the market for a year and a half and has earned consumer trust,» said Serhii Neroshchyn, Director of Marketing and Sales of Packaged Products at Kernel.
The development of proprietary brands in Europe is part of a broader trend of Ukraine’s agricultural sector moving from raw material exports to the sale of value-added finished products. This not only increases foreign currency revenues but also strengthens the recognition of Ukrainian brands in international markets.
For reference: Kernel is a Ukrainian sunflower oil producer with a 10% share of global exports. The company sells refined sunflower oil in Ukraine under its own brands, Stozhar and Shchedryi Dar, and exports products under its own brands — Kernel (available in 12 European countries, as well as Jordan, Lebanon, Bangladesh, and Guinea), Le Blanc and Premi (Egypt, the Middle East and South Asia), as well as under partners’ private labels.
Fangoo&Zon Impex is a Dutch international wholesale and distribution company engaged in the import and sale of food products and FMCG goods across the Benelux countries. The company is headquartered in the Netherlands.
In July–May of the 2025–2026 marketing year, Spain became the top buyer of Ukrainian sunflower oil, surpassing India. Thus, the Spanish market became a key export destination for one of Ukraine’s main agricultural products during that period.
During this period, Ukraine exported 578,500 tons of sunflower oil to Spain, accounting for 14.5% of total exports.
India ranked second with 571,500 tons and a 14.3% share.
“During April–May, Spain imported an additional 132,800 tons of Ukrainian sunflower oil, while India imported 87,100 tons,” the publication states. — “This allowed Spanish buyers to take first place among export destinations.”
The Netherlands remains in third place in terms of Ukrainian sunflower oil imports, having imported 460,200 tons of this product from April to May. The top five also included Italy (407,900 tons) and France (233,000 tons).
As reported, in January-April 2026, compared to January-April 2025, egg exports increased by 22% to 785.2 million units, and in monetary terms, by 72% to $88.6 million.
The main buyers of Ukrainian eggs in January–April 2026 were Spain (27.4%), the United Kingdom (14.2%), Poland (10.6%), and Israel (7.7%). The share of EU countries in exports is 74%.
Spain was also the main importer of Ukrainian eggs in 2025 (16.4%), followed by the United Kingdom (11.9%) in second place and the Czech Republic (10.3%) in third.
This is reported by latifundist.com, citing information from the Ministry of Economy.