Situation and Outlook - April 2001
Global oilseed production estimates for 2000/01 rose slightly this month to 306.8 million metric tons. A 1.0-million-ton increase in the Argentine soybean crop to 26.0 million tons accounts for most of the adjustment and is due to higher yields as a result of nearly ideal weather conditions. This is the second month in a row that Argentine production estimates have risen by 1.0 million tons. Sunflowerseed production continues to fall short of earlier estimates, and is down this month due largely to a 500,000-ton reduction in Argentinas sunflowerseed crop.
The global oilseed trade forecast was increased 447,000 tons to 65.0 million tons. The increase was due largely to higher soybean exports by the United States, and Argentina. U.S. soybean exports for 2000/01 are forecast at 26.9 million tons this month reflecting continued growth in Chinas import potential. The larger global oilseed import forecast includes a net increase in soybean imports of more than 700,000 tons with China alone 900,000 tons higher, and declines of 100,000 tons to both Latin America and South Korea. This higher growth reduces the impact of large foreign supplies on U.S. soybean exports.
World oilseed crush for 2000/01 was also raised this month, increasing 216,000 tons to 252.0 million tons. Crush estimates increased or were unchanged for all oilseeds except sunflowerseed, which declined 7,000 tons. Global oilseed ending stocks for 2000/01 rose to 32.5 million tons and reflect adjustments in soybean stocks which account for an additional 163,000 tons from month to month. Soybean ending stock levels rose in Argentina but were offset by a decline in U.S. soybean ending stocks, which were forecast lower by 5 percent to 8.2 million tons, as residual use this month was raised based on indications from the Grain Stocks Report. This lower figure is still above last years level.
Total soybean meal production was increased 185,000 tons reflecting higher output in China, and Brazils rise was offset by Argentinas nearly equal decline. Similarly, soybean oil production was increased slightly to 26.0 million tons, while U.S. stocks declined 5 percent due to reduced extraction rates and higher domestic use. World production of vegetable oils rose 200,000 tons this month as gains in both palm oil and palm kernel oil were only partially offset by reductions in sunflowerseed oil and olive oil. Global vegetable oil trade rose 170,000 tons to 34.0 million tons due mostly to larger palm oil exports from Malaysia.
For additional information pertaining to the summary above and other noteworthy developments within the oilseeds complex see the reports below. All reports are in Adobe Acrobat format (.pdf) unless otherwise noted. These reports, along with others, may also be obtained in both Adobe Acrobat (.pdf) and WordPerfect format (.wpd) by going directly to the Attaché Report section of the FAS homepage at http://www.fas.usda.gov/
Apr 10 2001 | Dominican Republic | Oilseeds and Products Annual
Apr 6 2001 | Chile | Oilseeds and Products Annual
Apr 6 2001 | Czech Republic | Oilseeds and Products Annual - Revised PS&D
Apr 6 2001 | Poland | Oilseeds and Products Annual
Apr 6 2001 | Turkey | Oilseeds and Products Annual
Apr 4 2001 | Pakistan | Oilseeds and Products Annual
Apr 4 2001 | Portugal | Oilseeds and Products Annual
Mar 28 2001 | Austria | Oilseeds and Products Annual