USDA Boosts World Oilseed Estimate

WASHINGTON - Feb 8/08 - SNS -- Global oilseed production for 2007-08 is projected at 390.3 million metric tons (MT), up 0.6 million MT from last month, according to the latest outlook from the USDA's World Agricultural Outlook Board.

Higher rapeseed, sunflowerseed, and cottonseed production more than offset reduced soybean production. Global soybean production is reduced 0.3 million MT to 220.1 million MT. Bolivia's soybean crop is reduced 0.3 million MT reflecting excessive rains and flooding that have reduced projected harvested area and yields.

Global rapeseed production is raised 0.2 million MT to 48.5 million due to larger projected crops for EU-27 and India. While harvested area is projected higher for both, the area increase for India is partly offset by lower yields.

Global sunflowerseed production is projected higher due to increases for Argentina and Ukraine. Other changes include higher cottonseed production for China and Pakistan, and lower cottonseed production for India. Malaysia palm oil production is projected at a record 17 million MT, up 0.4 million MT from last month.

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