According to Oil World analysts, the production of soybean oil in April-September in the TOP-3 countries compared to 15,3 million Tonnen in the previous year increased to 15,55 million tons and exceeded the result of product production in the first half of the current season (14,19 million tons).
It is expected that the increase in production will be due to the increasing consumption of the product, the high prices on the world market and the profitable margin for processing Soybeans is due.
In particular, the production of soybean oil in the USA up to 5,73 million tons in April and September, compared to 5,37 million tons in the same period last year. At the same time, production in Argentina could fall to 4,65 (4,68) million tons, in Brazil to 5,16 (5,25) million tons.
The total exports of soybean oil from these countries may increase to 5,12 (4,47 million tons) in the second half of the season, including Argentina - 3,76 (3,31) million tons, Brazil - 1 (0,98) million tons and the USA to 0,37 (0,18) million tons.