January 13, 2016

13/01/2016: World supplies of oilseeds, except for soybeans, to be tight for 2016; Thomas Mielke of Oil World to explain at Oilseed Congress

Thomas Mielke, editor-in-chief of Oil World and foremost authority on the oilseed complex, will provide the global outlook for the oilseed market at the second annual Oilseed Congress Europe/MENA next month, 9-10 February at the Hilton Barcelona.

Mr Mielke will open the conference on 9 February and elaborate on several forecasts from OIL WORLD, a leading global authority on independent supply, demand and price forecasts for oilseeds, vegetable oils and oilmeals, including:
  • The expectation for a production deficit for vegetable oils in the current season. Stocks will decline and vegetable oil prices will appreciate under the lead of palm oil. The impacts of the palm oil production losses, anticipated in several parts of Indonesia and Malaysia in 2016, will be discussed.
  • The implication that the bullishness of oils and fats is partly moderated by the ampleness of soybeans and a slowdown in the demand growth in China and several other countries caused by deteriorating economic conditions.
  • That vegetable oils will gain relative to oilmeals, and while some of the adjustment has already happened, this trend will accelerate in 2016.
  • That world supplies of soybeans are likely to remain ample, keeping soybean prices relatively low in the world crop season despite the fact that there are likely to be some production losses in South America owing to unfavourable conditions, primarily in Brazil.
Mr Mielke added that most other oilseeds are tight, particularly rapeseed and canola. 
“Despite larger than expected production in Canada, world supplies of rapeseed and canola will still decline sizeably in 2015/16, primarily as a result of crop losses in the EU, Ukraine, China, Australia and India,” he said in a pre-conference interview.
Thomas Mielke
A part of the Oil World team since the mid-1970s, Mr Mielke has been since 2002 executive director of ISTA Mielke GmbH in Hamburg, Germany, where Oil World is produced. He will be joined by speakers from around the globe at the Oilseed Congress, including David Hightower of The Hightower Report, Kevin Brassington of Noble Agri, and John Corbett of aWhere.

The Congress provides industry intelligence and networking opportunities for producers, exporters, commodity risk managers, procurement specialists operating in the oilseed value chain throughout Europe, the Middle East and North Africa. Learn more HERE.

The conference is hosted by HighQuest Group and sponsored by CME Group and SGS.

The Global Miller
This blog is maintained by The Global Miller staff and is supported by the magazine GFMT
which is published by Perendale Publishers Limited.

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