According to the new forecast, world production of oilseeds in the 2016/17 season will be 563,4 million tons, 5.4 million tons higher compared with the previous report, mainly due to the increase in forecast soybean production.

World soybean production is projected at 345,9 million tonnes, 5 million tonnes higher than the previous forecast mainly due to production growth in Brazil, Paraguay, Uruguay and Argentina. The result was a revision in a big way forecasts on export, import, processing and stockpiling soybeans.

Forecast of world exports of soybeans increased by 2.2 million tonnes to 143,3 million tons, processing – 0.4 million tons, reserves of 4.6 million tonnes. The increase in the forecast of imports was produced for China and the EU.

Photo: caravan.kz