WORLD Oil Seeds OUTLOOK

Oil Crops outlook – worldwide

In the year 2017-18, the production of oil seeds in the world is being increased by 2.3 million tonnes. World production of oilseed crops in the year 2017-18 is estimated to be 3474 million tonnes. While the soybean sowing area has seen an increase in the US, the soybean crop in India and Canada has been weakened. According to the US Department of Agriculture, the production of soybean in the current season in India is estimated to fall by 1.5 million tonnes to 10 million tonnes. At the same time, the crushing of soyabean in the current season is expected to decrease by 0.7 million tonnes to 8.7 million tonnes. Such a country is being seen due to lack of sowing area. However, in the US the production of less per hectare is being recorded less. Production of soyabean per hectare in 2016-17 was 52.1 bushels ie 1.32 tons, which is going to be 49.4 bushels 1.25 tonnes in 2017-18.

Decrease in soybean production in India

Whereas, US, Russia and European Union are increasing the production of soybean, while there has been a decrease in soybean production in India and Canada. Due to lack of soybean prices, farmers were unable to attract soybeans. Sowing of Soya bean in the country is usually done in the month of June-July due to the availability of mangroves. But the government statistics tell us that the area under soyabean has decreased in the current season. Farmers have focused their attention this year on pulses, cotton and coarse cereals. The area under soybean is backward. It is believed that in the current season, import of soybean oil can increase by 1 million ton. And the import of soybean can reach 42 million tonnes in India. According to the survey, prices may increase in the coming days due to lower production and importation of soyabean and refined soya oil. However, the industry is demanding increasing the duty on the import of soya oil so that the domestic soybean mill owners can get reasonable prices.

Mustard oil outlook

Due to signals from the international markets, the mustard crop is being seen. Global production of mustard is estimated to increase by 2 million 80 thousand tonnes to 72.7 million tonnes. Although the crop is weak in Canada and America, but the lack of mustard production in the world has not only been compensated by Europe but also gave surplus of mustard. That is, a significant increase in mustard yield has been recorded in the current season in Europe.

As a result of growing warmth in the production of mustard in France, Portugal, and Romania due to hot weather in June, the production of mustard in the European Union increased by 0.85 million tons to 22 million tonnes. In Canada, the crop of Kanaula is expected to fall by 0.5 million tonnes to 20.5 million tonnes. It is believed that Canada's canola exports could be reduced by 110 million tonnes and crushing 92 million tonnes.

Global Sunflower Crop Outlook

For the year 2017-18, the sunflower crop is estimated to be at 47.3 million tonnes with an increase of 5.2 million tonnes. In the current season, sunflower crop cultivation has been found in Russia. In sunshine crop, 5 million tons of sunflower crop is being recorded. In 2017-18, sunflower cultivation in Russia can reach 115 million tons. Which seems to break the record of 109 million tonnes of rise in the past year.

Peanut crop in India

In the early part of the monsoon, it seemed that in the current season, the production of peanuts will be produced and the farmers have made their trend towards groundnut. Gujarat was getting positive signs about the production of peanuts. But according to the latest data, the peanut crop is backward. There is also a decrease in groundnut production at the global level. Global production of groundnut decreased from 42.8 million tonnes to 42.7 million tonnes. And only talk about India, there has been tremendous decline in sowing area in India. For the year 2017-18, peanuts have been less than 1.0 million hectare. Sowing of 5.0 million hectares has been introduced for the current season. The result is that in the current season, groundnut production in India will be less than 1.1 million tonnes. In the current season, the total groundnut production in India will be 5.5 million tonnes. China is a big market for Indian peanut exporters but due to low production in the current season, China's market is showing signs of going to buy American peanuts.