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The global vegetable oil inventory in 2021/22 will hit an 11-year low

 Last Update: 2021-05-20
 Source: Internet
 Author: User

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WASHINGTON, May 13: According to the May Global foodmate.
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　　Global vegetable oil consumption is expected to increase by more than 4 million tons or 3% over the previous year.
The consumption of all vegetable oils will increase, especially the consumption of sunflower oil and olive oil will increase by 4% year-on-year.

　　Global industrial consumption of vegetable oils is expected to increase by more than 2 million tons or 4% over the previous year because of a 26% increase in US biodiesel production.

　　The global vegetable oil trade in 2021/22 is expected to reach a record level, as the sunflower oil trade resumes strongly and the palm oil trade continues to grow.

　　As the demand for vegetable oil continues to be strong, the global end-of-term inventory of vegetable oil will drop to the lowest level since 2010/11.

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　　Global industrial consumption of vegetable oils is expected to increase by more than 2 million tons or 4% over the previous year because of a 26% increase in US biodiesel production.

　　The global vegetable oil trade in 2021/22 is expected to reach a record level, as the sunflower oil trade resumes strongly and the palm oil trade continues to grow.

　　As the demand for vegetable oil continues to be strong, the global end-of-term inventory of vegetable oil will drop to the lowest level since 2010/11.

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