Soya oil demand increase in 2021- part 1

Soya oil demand increase in 2021- part 1 Soybean exports of 6 major countries reached a record 19.4 Mn T in April, up 1.0 Mn T from a year earlier. Prices of most major vegetable oils increased to 10-year highs recently. The total production growth continues to be impeded mainly by the downtrend in sunflower oil output. The US will be among the growth leaders with an expected increase in total consumption of eight vegetable oils of more than 0.8 Mn T in Oct/Sept 2020/21, added to prospective demand increases of 0.9 Mn T in China, and 0.6 Mn T in Indonesia. The disequilibrium has been magnified by the US government’s efforts to push renewable diesel production as per Oilworls.com. All this partially explains the rally of the past months in the soy oil and soy lecithin markets. This year has already been trying for the market participants, requiring agility in decision making and transient inner calm. Despite the unpredictable market, Lecital continues to manufacture and supply lecithin products which comply to the highest standards, and our solid and sustainable supply chain ensures steady delivery. Please contact us for market updates or a price quote. BACK