Global production and consumption of edible oils and fats is projected to increase in MY 2022/23
According to the latest report from Oil World (Germany), global consumption of oils and fats could increase by 10 million tons in 2022/23, while production is currently projected to increase by 6.9 million tons, the largest growth in five years.
Total oil and fat consumption in the US is expected to increase by 1.4 million tons this season, while a similar increase is seen in China, which is likely to be helped later this season by the start of Covid zero policy easing. Indonesia is likely to lead the growth again with an increase in vegetable oil consumption of about 2.0 million tons due to the increase in the share of biodiesel from 30% to 35% next year.
Read also
Victoria Golubyatnikova, SGS – Speaker at BLACK SEA OIL TRADE-2025, Bucharest
Over 700 thsd tons of Ukrainian grain were exported
Moldovan government approves sale of Giurgiuleşti port to Romania
In Central Russia, oilseed crops overtook wheat in terms of sown area for the firs...
Sunflower seeds harvest forecasts: Drought hits Ukraine, while Russia and Kazakhst...
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon