Global oilseed production to increase to 0.5164 billion tonnes over the next decade

According to the "Agricultural Outlook 2015-2024" report jointly released by the Food and Agriculture Organization of the United Nations (FAO) and the Organization for Economic Cooperation and Development (OECD), global oilseed production will continue to grow in the next ten years, and is expected to increase from 0.4514 billion tons in 2015 to 2024.0.5164 billion tons.

For comparison, global oilseed production averaged 0.4252 billion tons per year between 2012 and 2014.

The report shows that global oilseed consumption is expected to reach 0.5157 billion tons in 2024, higher than the 0.4507 billion tons expected in 2015, and the global average consumption between 2012 and 2014 is 0.4284 billion tons.

Global oilseed exports are expected to reach 0.1574 billion tons in 2024, compared with 0.1383 billion tons expected in 2015 and an average of 0.1207 billion tons between 2012 and 2014. The ending stock of oilseeds in 2024 is expected to be 44.4 million tons, compared with 50.7 million tons expected in 2015 and 41 million tons average between 2012 and 2014.

Global oilseed prices are expected to be $459.6 per tonne in 2024, compared to $403 in 2015 and an average price of $511.20 between 2012 and 2014.

Source: FAO