HAMBURG, Germany (Reuter) – World stocks of oils and fats will fall to 9.70 million tonnes by April 1, from 11.08 million at the start of 1997, independent newsletter Oil World said in its latest report, issued last week.
It said the three month drop in stocks of 1.38 million tonnes compares with a 0.44 million tonne fall in the first quarter of 1996 and a 10-year average of 0.36 million tonnes for the quarter.
Demand will develop quickly in China, India and Indonesia, while production will fall in Latin America, China, the 15-member European Union and the former USSR.
This would cause large exports from producing countries in Southeast Asia, the U.S. and South America.
