22 March 2002 (OIL WORLD WEEKLY)

. World production of 10 oilseeds will rise by 9.2 Mn T to 320.7 Mn thisseason, whereas total oilseed consumption is estimated to rise by 11.9 MnT to a record 322.0 Mn T. New record soybean crop now harvested in S.America will be needed to cover demand in 2002.

. Tightness in sunflowerseed and rapeseed prevailing throughout thisseason, but higher crops are in the making for 2002/03.

. Global soybean demand is forecast to accelerate by 12.6 Mn T thisseason, exceeding production growth. Reduced availability of othercommodities is raising the dependence on soya oil and meal which, in turn,is boosting soybean crushings.

. The production of 17 oils & fats is estimated to rise by only 2.3 Mn Tthis season. This will probably require that global inventories of 17 oils& fats are reduced by 1.3 Mn T within 12 months to 13.0 Mn T as ofend-September.

. A sharp rise in world soybean meal output (due to stronger demand foroil) of an estimated 9.4 Mn T plus already large stocks at the start ofthis season are more than sufficient to cover an even above-averageincrease in soybean meal demand.

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