Price indices for oilcrops and derived products
The indices are derived from a trade-weighted average of a selection of representative internationally traded products. To access the series of indices along with commentary on latest price developments click here.
Oilcrops, oils and meals market assessment - November 2012
Summary : The 2012/13 oilcrop season is opening underthe legacy of a tight 2011/12 balance and with a disappointing soybean crop in the United States. Last season’s tightness mainly resulted from short global soybean supplies which, combined with firm soy demand, led to a significant drawdown in world stocks. With global stock-to-use ratios falling to critically low levels, international prices embarked on a new upward trend in 2012. Oilseed and meal quotations, in particular, climbed virtually without interruption until August, setting new records. Only oils/fats prices departed from this tendency as the arrival of abundant palm oil supplies on the world market coincided with a weak demand for the product. The 2012/13 season started with very low opening stocks, but also with disappointing first harvests, especially in the United States, where the new soybean crop (the harvest of which is nearing completion) was hit by severe drought. The US production shortfall is likely to limit global export availabilities over the first half of the current season. Although record-high soy prices are expected to strongly stimulate plantings in South America (where the season is about to start), harvests in the region are several months away, meaning that favourable weather conditions throughout the growing season will be required for current forecasts of a record crop to materialize. Overall, the current 2012/13 outlook points to an improvement in the global supply and demand balance for oilcrop products, in particular oilmeals. Built into this forecast are expectations that persistently high prices are going to ration demand for oilmeals and that growth in the demand for oils/fats could be contained by a lower uptake of vegetable oils by the biodiesel industry. Considering that only a partial recovery in global stock levels and stock-to-use ratios appears possible, international markets are expected to remain vulnerable, leaving limited room for a relaxation in prices, at least until prospects for record soy crops in South America are confirmed. Read full document
The Monthly Price and Policy Update (MPPU) is a new information product provided by the oilseeds desk of the Trade and Markets Division. As a complement to our bi-annual market reports, this brief note follows two purposes: first, to review the development of international prices for oilseeds, oils and meals as reflected by FAO’s specific price indices and second, to spot recent policy and market events - selected from a variety of sources - that are deemed important for the global oilseed economy. The brief shall be issued in the second week of each month, for a total of 10 issues per year. The note, which will be available in English only, will be posted on this web page as well as sent to subscribers of the Oilcrops Market Network.
The Monthly Soybean Supply & Demand Round-up is a new, provisional product provided by the Oilseeds Desk of the Trade and Markets Division. As a complement to our bi-annual market reports on oilseeds, oils and meals, this brief note presents our most recent global supply and demand estimates for soybeans. The brief, which is available in English only, will be posted in the last week of each month, for a total of 10 issues per year.
OECD-FAO Agricultural Outlook: Oilseed Projections 2012-2021
Highlights: (i) Strong demand for food, feed and biofuel feedstock combined with high production costs underpin a sustained increase in nominal prices of oilseeds, protein meals and vegetable oils over the projection period.(ii) Compared to the 2009-11 average, world oilseeds production is expected to expand by only 20% over the coming decade. High costs, environmental constraints and sustained profitability of competing crops limit growth to only about half the rate observed over the previous decade. Production growth is based equally on continued area expansion and yield improvements. (iii) Oilseeds production and exports continue to be dominated by traditional players, but emerging exporters, such as Ukraine and Paraguay, are expected to increasingly contribute to global export growth. While South American soybean producers continue to dominate global meal exports, Indonesia and Malaysia expand their share of vegetable oil exports to over 60%. Imports of oilseeds and products are less concentrated, yet China and the European Union remain the dominant importers. (iv) Significant growth in biodiesel use is expected in developed and developing countries.However, food consumption stagnates in the developed world while per capita annual food use in developing countries is expected to expand by 2 kg or 12% over the next ten years, leaving it still at only about three-quarters of the level currently found in developed countries.
» Read the full Outlook chapter on oilseeds, oils and meals
See also:
»Outlook chapter on biofuels (ethanol, biodiesel)
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