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FAO estimates record oilseed production but soybean crop will be down

Saturday, November 26th 2011 - 03:12 UTC
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Global oilseed production is estimated at record 472 million tons in the 2011-12 marketing year starting October but the growth in output will be subdued, FAO said in a report. Similarly soy bean production is expected to fall to 260.7 million tons from 265.8 million in 2010/2011.

“World oil-crop production in 2011/12 is tentatively estimated at 472 million tons. Although a new record, production would grow by less than one per cent year-on-year, compared with over five per cent on average in the last three seasons,” Food and Agriculture Organization (FAO) said in its latest ‘Food Outlook’

The global oilseeds’ output is estimated at 469.9 million tons in the 2010-11 marketing year (October-September). The report also states that global oilseeds output would rise only marginally because of decline in soy bean and rapeseeds production.

While soy bean production is expected to decline to 260.7 million tons in 2011/12 crop year from the estimated 265.8 million tons in 2010/11, rapeseed output is pegged lower at 59.2 million tons from 60.7 million tons in the same period, it added.

In the case of soybean, output in the US, world’s leading soybean producer and exporter, has been lower in the just completed harvest due to lower plantings and weather induced yield losses, FAO report said.

“Lower soybean output is also reported in China due to shifts in plantings and continued shrinkage in the country’s arable land base, and Canada,” it added.

In South America, soybean production is expected to rise marginally due to competition from grains and other crops, and uncertain yield prospects as a new La Niña weather pattern might develop during the season, bringing below average rainfall to the region, it added.

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