Food Outlook – Biannual Report on Global Food Markets
FAO’s 2020/21 forecasts continue to point towards a tight market situation for oilseeds and oilseed products, with resumed production growth foreseen insufficient to meet world demand. In 2020/21, global oil crop production is expected to recover from the previous season’s reduced level, with an area-driven rebound in soybean and
rapeseed production more than offsetting a weather induced contraction in world sunflower seed output. While global supplies of meals/cakes are set to recover, global
consumption is forecast to continue expanding, led by increasing consumption in China. With global meal uptake expected to surpass world supplies, global carry-out stocks
of meals/cakes are anticipated to contract for a second consecutive season, possibly dropping to a seven-year low and entailing a further decline in stocks-to-use ratios.