Spain: Campaign 2021/22 on record in the oilseed sector and spectacular rise in prices

Published 2021년 6월 8일

Tridge summary

The agricultural news article for the 2021/22 oilseed balance forecasts record highs in production, consumption, and trade, with significant price increases. The production forecast is 632 million tons, with soybeans as the dominant oilseed at 386 million tons. The main producing countries are Brazil, the US, China, and Argentina, accounting for 63% of world production. Consumption is expected to rise due to its use as protein in feed, human consumption of oils, and biodiesel, with soy consumption accounting for 62.4% of total consumption. Trade is projected to reach 200 million tons, primarily soybeans from Brazil and the US, with China and the EU as the main customers. The final stocks forecast is 104.6 million tons, with a significant decrease from the previous five seasons. Export prices have seen a dramatic increase since May 2021, particularly in the pork industry, to reach record highs in all markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The oilseed balance for 2021/22 will reach new records, in production, consumption and trade, with a spectacular rise in prices. (situation similar to the cereal sector recently published in Agrodigital). Oilseed production forecast at 632 million t for 2021/22: soybean 386 million t (61%), rapeseed 73 million t (11.6%) and sunflower with 55 million t (8.7%) would represent 81 , 3% and the rest other oilseeds: cotton, peanut, palm and copra. The main producing countries would represent 63% of world production: Brazil the leading producer (23.6%), the US (20.6%), China (10.2%) and Argentina (9%). The consumption of oilseeds, continues unstoppable as protein in the manufacture of feed, in oils for human consumption and in the biodiesel industry mainly. Soy consumption would correspond to 62.4% of oilseed consumption. Trade would reach 200 million tons, of which 86.5% correspond to soybeans. Shipments from Brazil (54%) and the US (33%) constitute 87% of soy exports. China, the first ...

Source: Agrodigital