27/04/2013 (UkrAgroConsult) - The European Union's vegetable oil imports are likely to rise in 2012/13 on lower domestic output and higher consumption, according to the European Commission in its April forecast. Total imports will increase 11% to 8.0 million tonnes (MT) in 2012/13 against 7.2 million MT a year ago. Increased imports are driven mainly by higher imports of soybean oil, sunflower oil and palm oil. Soybean oil imports will rise to 0.8 million tonnes in 2012/13 from 0.6 million MT in 2011/12, sunflower oil to 1.0 million MT (0.8 million MT), and palm oil to 5.6 million MT (5.3 million MT). Imports of rapeseed oil will stay the same at 0.6 million MT.  

Domestic production of rapeseed, soybean and sunflower oils will drop to 13.6 million MT in 2012/13 from 14.1 million MT in 2011/12. Consumption of vegetable oils is forecast to increase to 20.6 million MT in 2012/13 from 20.2 million MT a year earlier. Rapeseed oil and sunflower oil use will drop slightly at 2.2% and 2.9% respectively. But soybean oil consumption is seen to rise sharply to 2.7 million MT, up 12% from 2.4 million MT in 2011/12. Palm oil use will also increase to 5.4 million MT, up 8% from 5.0 million MT a year earlier.