Oil World sees growing dependency on palm oil

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AMSTERDAM Oct 16 (Reuters) - Sizeable declines in world export supplies of sunflower oil, rapeseed oil and soybean oil will raise the global dependence on palm oil this year, analyst Oil World said on Tuesday.

German-based Oil World said it expects an increase in palm oil exports in 2012/13. Palm oil exports declined in the period from April to September this year leading to record high stocks in the world's number 2 producer Malaysia.

"But the prospective sizeable decline in world exports of sunflower, rapeseed, and soy oils by a combined 1.1 million tonnes will contribute to a demand shift in favour of palm oil," Oil World said.

"The current unusually large price discounts of crude and processed palm oils relative to other vegetable oils and tallow will stimulate a demand shift in favour of palm oil."

Fonte: Reuters. Leiam mais...

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