According to Oil World, global sunflower seed production will likely reach a record 40.2 million metric tons – 13% higher than last year and 600,000 tons more than was estimated one month ago. Global production of rapeseed and canola may reach a record high as well, totaling 67.7 million tons for 2013/14 with 21.01 million tons from the EU and 16.5 million tons from Canada. Despite heavy rains slowing the harvest in recent months, Oil World increased its forecast for sunflower seed production for Russia and Ukraine by a combined 500,000 tons bringing total combined output for the two countries to 19.1 million tons. Rapeseed planting in the EU is expected to be 3% lower in 2014 than 2013 at 6.5 million hectares with the largest declines seen in France and Germany. Global palm oil production is also expected to be 5.1% larger than last year with Indonesia producing 30 million tons and Malaysia producing 19.88 million tons. Global dependence on palm oil will decline in 2013/14 because of a significant increase in crushing and seed oil production from soybeans and sunflower seeds. Palm oil inventories at the end of the 2013/14 season may increase 4.2% to 10.45 million tons.
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