MUMBAI, Nov. 26 (Business Line) - GLOBAL production of major oilseeds islikely to reach a new high in 2001-02 on the back of record soyabeanoutput, so will oilseeds crush. This will lead to record protein mealproduction, consumption and trade in the current year. World vegetable oilproduction, consumption and trade will also witness expansion but at aslower rate leading to drawdown of stocks.On current reckoning, production of major oilseeds and oil-bearingmaterial is forecast to record 323 million tonnes in 2001-02, up from 311mt last year. A 9 mt increase in soyabean output to an unprecedented 182.5mt, a 3 mt increase in cottonseed to 36.5 mt and 2.5 mt in groundnut to33.7 mt will be partially offset by lower sunflowerseed and rapeseed crop,according to the US Department of Agriculture (USDA).Latest estimate suggests soyabean output in the US will reach anunprecedented 79.5 mt, up from 75 mt of 2000-01, while forecast for Braziland Argentina (crop to be harvested in February 2002) will scale newhighs, continuing the consistent rise of the last few years.Brazil's soyabean production for 2001-02 is forecast at 41.5 mt (38.4 mt)and Argentina 28 mt (26.7 mt). Both China (15.3 mt) and India (5.6 mt)have more or less maintained their production volumes.Global oilseeds crush this year will expand to 263.5 mt (255 mt)encouraged by 7.5 mt increase in soyabean crush to 155 mt Together withhigher cottonseed and groundnut crushing, global protein meal productionis slated to reach 182.2 mt, of which soyameal will account for 123 mt.In case of major vegetable oils, the USDA has forecast production for2001-02 at 90.6 mt (88.7 mt) and consumption at 90.7 mt (88.2 mt). Acombined 1.1 mt reduction in rapeseed oil and sunoil production will bemore than offset by higher soyabean, palm, groundnut and cottonseed oilsproduction.Palm oil production: Malaysia national monthly average rainfall in the2001 third quarter fell below normal for only the second time in the last10 quarters.Additionally, excess precipitation in November 2000-January 2001 is likelyto reduce palm oil production prospects.As high yields are typically associated with above-average precipitation,the reduced third quarter has reduced palm oil yield prospects, USDA hassuggested.During 2001-02, Malaysian palm oil production is forecast at 12.2 mt, upfrom 11.9 mt of last year when the average yield was 4.06 tonnes perhectare. Malaysian palm oil area is currently estimated at 3.31 millionhectares and the yield is expected to be lower than last year's.