Hamburg, 16 February 2010

Increasing biodiesel production will restrain 2010 soyoil exports by the U.S., Argentina and Brazil and tighten soyoil supplies especially in the U.S., Hamburg-based oilseeds analysts Oil World forecast on Tuesday. It tentatively forecasts global 2010 calendar year soyoil exports at 9.42 million tonnes, 200,000 tonnes up on 2009 and down from 10.11 million tonnes in 2008 despite rising soyoil output.

"Increased requirements for soyoil for biodiesel production in Brazil, Argentina and the U.S. will again squeeze soyoil export supplies in 2010," it said.

Global 2010 soybean crushings are forecast by Oil World to rise strongly to 212 million tonnes, up 18 million tones on the year. This is expected to raise world 2010 soyoil output by 10 percent on the year to 39.5 million tonnes.

"We expect only a very small recovery in soyoil exports in calendar year 2010 to 4.7 million tonnes in Argentina and 1.7 million tonnes in Brazil compared to multi-year-lows of 4.61 and 1.59 million tonnes respectively in Jan.-Dec. 2009," it said.

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