Vegetable Oii Prices Seen Appreciating Relative to OiSmeals in 2019/20 Record soybean stocks carried over from last season will keep world supplies sufficiently large in 2019/20,despite the much lower US soybean crop

摘要

Vegetable oil prices are set to appreciate in 2019/20.Stocks will be declining as consumption will outpace production.Today we are presenting our new forecasts,which point to a noticeable slowing-down of the growth in world production of 8 vegetable oils to only 3.8 Mn T,the lowest in four years and sharply behind the average annual growth of 7.7 Mn T during the most recent two seasons.In contrast,world demand has accelerated with unusually large year-on-year increases of 8.2 Mn T in 2017/18 and 8.7 Mn T estimated in 2018/19.Rising demand was noted in the biodiesel industries around the globe(under the lead of Indonesia)and also in the food industries of many importing countries(primarily in India and China).