Browse Data and Analysis

Côte d’Ivoire ranks as Africa’s second largest producer of crude palm oil (CPO); trailing just behind Nigeria’s production, it is a pivotal player in the sub-Saharan regional market.

Côte d'Ivoire is one of the leading producers of palm oil in Africa, with annual production exceeding 500,000 metric tons since 2018. The country consumes over 75% of its palm oil production domestically, with palm oil being a staple for 90% of the population. The high domestic demand for palm oil outstrips supply, creating intense competition for fresh fruit bunches (FFB).

India’s oilseeds production in marketing year (MY) 2024/25 (October-September) is forecast to reach 41.9 million metric tons (MMT), a marginal drop from MY2023/2024 estimate of 42.7 MMT due weaker prices for Indian producers, limited agricultural input availability, and weather trends.

While there is still considerable uncertainty regarding implementation, in January 2024 the government approved a system allowing for the resumption of genetically engineered commodity imports.

On June 14, 2023, India’s Ministry of Finance issued Public Notice No. 39/2023 - Customs that reduces the import duty on refined sunflower and soybean oils.

As of March 2023, Pakistani authorities still ban genetically engineered (GE) oilseed imports. While they have made some progress in developing a system to allow for GE oilseed imports, uncertainty regarding when that system will be operative clouds the outlook for oilseed imports.

India’s rapeseed and mustard (rapeseed-mustard) production estimate for marketing year (MY) 2022/2023 (October-September) is forecast to drop slightly to 11.4 million metric tons, harvested from a record 9.2 million hectares following a favorable monsoon performance in the state of Rajasthan.

Due to the recent ban on genetically engineered (GE) commodity imports, the 2022/23 soybean import forecast is reduced from 2.5 to 1.2 million tons. With the lower expected soybean imports, 2022/23 crush and soybean meal output is reduced accordingly.

The 2021 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world.

India’s oilseeds production in marketing year (MY) 2022/23 (October-September) is expected to extend its momentum and reach 42.1 million metric tons (MMT), a one percent increase over the MY 2021/22 crop. Both rising animal feed demand and the anticipated growth in oilseed supply will further increase oil meal production by two percent to 20.7 million metric tons.

Edible oil prices have been trending higher and are now increasingly volatile due to poor market transparency and the Russian invasion of Ukraine. Post forecasts MY 2022/2023 soybean imports up to 2.8 million MT, while local soybean production remains flat.

Due to the poultry industry’s slow recovery and sluggish consumer demand for edible oils, no significant growth in oilseed and edible oil use is forecast for 2022/23. Likewise, soybean, canola, and palm oil imports in 2022/23 are forecast to remain similar to 2021/22 levels.