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The Oilseeds market provides detailed insights into the five major elements (size, share, scope, growth and potential of the industry). It offers valuable information to help businesses identify opportunities and potential risks within the market. This detailed report is spread across 138 pages, ensuring an in-depth analysis of the subject matter.
Overall, the Oilseeds market is poised for continued expansion in the coming years due to the increasing demand for sustainable and innovative products, as well as the widespread adoption of technology. By 2032, the global Oilseeds market size is projected to reach multimillion figures, displaying an unexpected compound annual growth rate between 2024 and 2032 when compared to the figures observed in 2022.
The Bureau of National Statistics also informed that sunflower oil fell in price by 24.6% over the year, which, in turn, contributes to the slowdown of inflation in the country.
Sufficient supplies in store
Low domestic and international demand is causing further price declines for shine skins in China. An estimated 50,000-60,000 mt are still in store, which should easily accommodate demand until the arrival of the new crop in four months. Sowing is underway and will be completed in May. Many farmers have switched to shine skins as other agricultural products only fechted low prices. Quotations for the new crop will, therefore, be quite cheap and the prices for the current crop will continue to drop in the next few weeks...
Although soyabean production played a crucial role in the global food and feed industry, its expansion had raised concerns about the loss of biodiversity in key regions, including Brazil, the world’s leading soyabean producer, the company said.
Against this backdrop, the partners said they wanted to address these challenges and drive positive change.
“What is new about this project is the multi-stakeholder co-creation approach. We want to jointly develop metrics and practices to favour the creation of a biodiverse environment that are accepted and achievable by all stakeholders – farmers, NGOs, the industry and other experts,” Sergi Vizoso-Sansano, senior vice president BASF Agricultural Solutions Latin America, said.
At 5M ha, sunflowerseed production area was expected to remain about the same as the previous year.
A major exporter of bulk agricultural commodities, Ukraine depended on access to ports and sea routes, all of which had been impacted following Russia’s invasion in February 2022, the 3 April report said.
Ukraine prioritised grain exports, the USDA said, while oilseed shipments fluctuated based on available export capacity...
Exporters in India won several bids in the April tender. They secured positions for 5,100 mt out of the total quantity of 7,500 mt. This news has boosted trade, especially since the offers from India covered a wide price gap of USD 1,679-1,936/mt. The low rates issued by some exporters in India, in fact, took competitors in other countries by surprise. Nigeria, Niger and Togo along with Pakistan also won bids...
According to the USDA, Ukraine’s share in the global SFO trade in 2023/24 will be almost 41%, and russia’s – 30%.
SFO exports (forecast, 2023/24):
- Ukraine – (-3% by 2022/23, higher exports are likely if temporary sea corridor efficient functioning);
- russia – (+10%, export increase 3 seasons at row).
For most of the 2023\24 season, the spread was positive for SFO prices compared to soybean and palm oil prices.
2024/25 Season
UkrAgroConsult forecast for Ukraine SFS harvest looks optimistic, based on an expansion of sown areas by 2.6%. If only average yields achieved, the 2024 SFS production will increase by 2%. The forecast for 2024/25 SFO exports is also not lower than in the current 2023/24.
russia not for the first time announces a reduction in the SFS sown areas in 2024 (-2% compared to 2023). It is likely that in the new season 2024\25 this scenario will come true, as farmers’ margins of soybeans, rapeseed and flax are growing.
Full version of the article is available to subscribers of ‘BLACK SEA VEGOIL’ Weekly Report by UkrAgroConsult.
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The event is organized by the National Oilseed Processors Association (NOPA), and APK-Inform Asia is the general media partner of the event.
At the conference, representatives of the processing industry, related industries, government agencies, as well as other market participants will discuss the current situation in the oil and fat industry of Kazakhstan and the world, trends, vectors, development prospects, current problems and ways to solve them.
FOC 2024: Fats and Oils Conference will bring together oilseed processors, exporters and importers, experts, leadership of relevant ministries, industry unions, and transportation companies. The event will focus on opportunities to strengthen the position of Kazakhstani companies - producers and exporters - in the oil and fat market of Kazakhstan and the world.
The conference will be a great opportunity not only to get useful information about the market situation first-hand, but also to establish valuable business contacts, attract investments and sign mutually beneficial contracts.
All the most interesting news from the conference will be published in APK-Inform news feed. Follow the developments!
If the drought in Western Australia continues for another month, the bank estimates a significant reduction in the crop is possible. The state produced 44% of Australia’s rapeseed in the 2023-2024 season. The second and third places in rapeseed production are shared by New South Wales and Victoria.
Conditions in New South Wales look “phenomenal” ahead of the fall planting season. In Victoria, conditions are also favorable, but farmers are hoping for rain by June. The Australian Bureau of Meteorology is forecasting above-average rainfall in New South Wales from May to July, but below average in many parts of Victoria and Western Australia. “If the drought in Western Australia and Canada continues, carryover residuals could be the lowest in eight years. We expect prices to rise,” the bank’s experts wrote.
The Commonwealth Bank forecasts Australian rapeseed production of 5.67 million tons for the 2024-2025 season, about the same as last year. Experts at the U.S. Department of Agriculture (USDA) give a higher estimate of 6.5 million tons, 14% more than last year, or the third largest crop in history...