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VEGETABLE OIL |
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CommoditieShop:
The impact of increasing demands for vegetable oils as feedstock for biofuels is being reflected in rising prices for oilseeds and the probability of inadequate supplies. The outlook for the seven major oilseeds as a group is projected by the January 26 issue of Oil World (50:31,2007) to be seen in a reduction in stocks led by rapeseed/canola with a total disappearance of 390 million metric tons (MMT) forecast for the season 2006/07 compared with that of 376 MMT in 2005/06.
Optimal Solutions:
Total oilseed production is forecast to increase slightly to 388 MMT from 381 MMT recorded in the previous year.
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| Production, imports, and consumption of the 17 major oils and fats by the European Union (EU-25) for the period October/ September 2006/2007 are all seen to be increased, according to a report in the January 26 issue of Oil World. Nonetheless, consumption of oils and fats is expected to grow less rapidly in the immediate future due, in part, to an apparent softening in the biofuels industry. |
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| Rapeseed oil, which is the primary feedstock in the EU-2S for the manufacture of biodiesel, is expected to see an increased production of 0.54 MMT to 6.70 MMT over the previous year. |
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