Global oil crops production will reach a record level in 2016 - 2017

23 May, 2017
Global oil crops production will reach a record level in 2016 - 2017
According to Oil World's latest forecast, global production of the seven key crops will reach the record 549.5 mln. tonnes in the current season which is by 3.1 mln. tonnes more than the previous estimate and by 10% more than the previous year.

The result exceeds the average for the past five years by 68 mln. tonnes.

The largest contribution to this year's growth was recorded in soybeans by +2.8 mln. tonnes to 348.2 mln. tonnes, up by 12% compared to last year. Soybean stocks will increase in the US, Brazil, Argentina, India and China.

World sunflower production will reach the record 48.2 mln. tonnes (+ 5.3%), cotton 39.5 mln. tonnes (+ 2.6%), and others. Rapeseed crop will fall by 1.1% to 63.1 mln. tonnes.

In 2016 - 2017 the supply of all oil crops in the world will be 642 mln. tonnes, which is by + 43.2 mln. tonnes more than the previous year and stocks increase by 20.6 mln. tonnes to 113.1 mln. tonnes.