Vegetable Oils and Oilseeds

Eufrosina Mereoru

Conjunctura economiei mondiale / World Economic Studies, 2016, 228-238

Abstract: According to the estimates from the US Department of Agriculture, USDA, in its Report published on April 2016, in the 2014/2015 season, the main types of vegetable oils produced and marketed worldwide are: - the palm oil - which weights 35% of vegetable oils world production , 34.3% of world consumption, 63.7% of imports and 61.7% of world exports; - soybean oil –which is 27.8% of world production, 28% of consumption, 14.4% of imports and 14.5% of world exports; - rapeseed oil – which represents 15.4% of world production, 15.7% of consumption, 5.3% of imports and 5.6% of world exports; - sunflower oil –which is 8.4% of world production of vegetable oil, 8.2% of consumption, 8.4% of imports and 9.7% of world exports of vegetable oils. All these 4 types of oils concentrates 86.6% of world production of vegetable oils, 86.2% of total consumption, 91.2% of exports, 92.1% of imports and 92.3% of total final stocks of vegetable oils worldwide in the 2014/2015 season. The vegetable oil prices recorded during the 2014/2015 season, a general downward trend in all types of oil: the palm oil recorded the largest decrease (-22%), followed by rapeseed (-18%) soybean oil (-18%) and sunflower oil (-8.5%) compared to the season 2013/2014; the peanut oil drop was not significant (-0.1). The main factors that contributed to the decline in market prices of vegetable oils in the 2014/2015 season were the faster growth of production to consumption worldwide and the reduction of world stocks. According to data published by the US Department of Agriculture in its report of March 2016, "Oilseed Prices" in the 2014/2015 season, the averages prices were recorded decreases for all types of oilseeds: the soybean (407 $ / tone -24.9% compared to the previous season); the rapeseed (417$ / tone; -17.4%) and the sunflower seeds 432($ / tone; -7.3%) and the groundnut seed recorded a slight decline (-0.5% to 1294$ /ton). According to the estimates from the US Department of Agriculture, from March 2016, the production of oilseeds in the 2014/2015 season, went up by 6.2% over the previous season, to 535.65 million tons; consumption (grinding) oilseeds to seasonal registering an increase of 5.1% to 439.32 million tons. Regarding the international trade in oilseeds, were recorded increases in exports: by 9.7%, to 146.50 million tons and imports by 6.8%, to 140.81 million tons), in the same season The final stocks of oilseed production in 2014/2015 season, according to USDA estimates, exceeded by almost 18% upsurge on the previous season, to 90.96 million tons. The majority share of oilseeds stocks is owned stocks of soybeans, with a volume of 77.14 million tons (+ 25% compared to the previous season) and 84.8% of the world total; for the other types of seeds were recorded decreases.

Keywords: Supply &Demand Balance; production; consumption; prices; stocks; forecasts (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:iem:conjun:y:2016:p:228-238

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