According to Oil World analysts, in March the volume of production of soybean oil in the United States decreased slightly compared with the same month in the previous year to 0.86 (0,88) million tons. While domestic consumption of the products decreased by 0.04 million tons per year to 0.72 million tons due to reduced demand from the biodiesel industry and the food industry.

Moreover, this trend has led to increased exports of oil from the country to 0.13 (0,11) million tons. Ending stocks of soybean oil in the United States as of the end of March was 1.02 (1,05) million tons.

It is also noted that, despite near-record offer of soybeans in the domestic US market, the production of soybean meal in the reporting month decreased to 3.48 (3,57) million tonnes amid falling demand for the products. As a result, exports of U.S. soybean meal in March increased to 1.25 (0,91) million tons, which resulted in a reduction of ending stocks product to 0.28 (at 0.31) million tonnes.

Photo: btimes.ru