China maintains vegetable oil production and consumption forecasts for MY 2026/27

China’s Agriculture Outlook Committee (CAOC) left its forecasts for vegetable oil production and consumption unchanged in the July CASDE report for the 2026/27 marketing year. Vegetable oil production is projected at 31.41 mln tons, while consumption is forecast at 37.89 mln tons.

The forecast for soybean oil production remains unchanged at 17.17 mln tons, while rapeseed oil output is expected to stay at 7.77 mln tons. The committee said China’s domestic vegetable oil market remains well balanced thanks to adequate inventories and expectations of abundant global oilseed supplies.

China has largely completed procurement of the new rapeseed crop. Trading activity remains steady, with prices broadly in line with previous years, although higher-quality rapeseed continues to command a premium.

Globally, market attention is focused on Canada, where rapeseed planting has been completed. The planted area has reached its highest level in nearly a decade, reinforcing expectations of larger global supplies and continuing to put pressure on rapeseed prices.

CAOC also noted that the overall global oilseed market remains favorable for importers. Expectations of strong harvests in major producing countries are supporting ample raw material supplies, helping to maintain stability in China’s vegetable oil market during the new season.

Tags: imports, edible oils, rapeseed oil, China, soybean oil, palm oil