Global oilseed production growth in 2026/27 to be the smallest in five years

Global production of the 10 major oilseeds is forecast to increase by 14.1 mln tons in 2026/27 to 705.9 mln tons, according to Oil World. Soybean production is expected at 440.3 mln tons, sunflower seed at 64.3 mln tons and rapeseed at 87.3 mln tons.

Despite a 9.6 mln ha expansion in planted area, production growth is expected to be the smallest in the past five years. Average yields are forecast to decline in India, North America, the EU and Australia, while production costs for fertilizers, crop protection products and diesel fuel have risen sharply.

At the same time, global oilseed crushing is expected to continue expanding strongly for a fourth consecutive season, supported by high demand for vegetable oils and meals. An expected decline in global palm oil production and exports could further increase reliance on other vegetable oils.

Global soybean crushing in 2026/27 is forecast at 384.3 mln tons, up 7.2 mln tons from a year earlier. Rapeseed crushing is expected to increase by 3.7 mln tons to 85.7 mln tons, while sunflower seed crushing may rise by 4.9 mln tons to 56.85 mln tons.

The largest increases in oilseed crushing are expected in the US, Brazil, Argentina, Russia, Ukraine and China. Meanwhile, growth in soybean crushing in China may slow to 1.2 mln tons, while rapeseed and canola processing could recover if imports of Canadian canola increase significantly.

Tags: global market, soybean, oilseeds, sunseed, rapeseed