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The latest September report from the United States Department of Agriculture (USDA) indicates that global vegetable oil exports are on track to achieve a new record of 141 million tonnes during the 2026/27 marketing year. This figure represents an approximate 2 per cent increase compared to previous levels, highlighting a continued expansion in the international trade of oils and fats.
The primary catalysts for this projected growth are rapeseed and sunflower oils. Specifically, trade in sunflower oil is expected to surge by 15 per cent, a movement largely fueled by increased export availability from major producers Ukraine and Russia. On the demand side, India and China are anticipated to remain the dominant importers of sunflower oil. Similarly, rapeseed oil exports are projected to rise by 8 per cent, supported by strong supplies from Russia, Ukraine, Canada, and Australia, with the United States and China emerging as the primary destinations for these shipments.
In contrast, other major oil categories show more modest or even negative trends. Soybean oil shipments are forecast to grow by only 1 per cent, while palm oil exports may witness a decline of roughly 2 per cent. Total global production for palm oil is estimated at 81.1 million tonnes, with soybean oil production expected to reach 75.1 million tonnes.
Furthermore, the USDA report anticipates a significant uptick in global oilseed processing, which is forecast to reach 549.8 million tonnes. This volume represents an increase of 22.6 million tonnes over the previous season, reflecting heightened industrial activity in the crushing sector.
Source: Logos Press