Oil World sees rising global demand for soyaoil

Increasing global demand for soyaoil boosted combined exports by the world's biggest producers to a record high in September/January 2005/06, Hamburg-based industry publication Oil World said.
Argentina, Brazil and the United States raised exports to 876,000 tonnes in December, up by 44 percent from a year earlier, and to 640,000 in January, up 27 percent, it said. China was the largest soyaoil consumer, with shipments from the key exporters reaching 880,000 in September-January, up by 22 percent, Oil World said.
India was the second biggest buyer but combined shipments of 442,000 tones were down 32 percent. The European Union became the third largest export destination with 244,000 tonnes in September-January, up from 67,000 tonnes. Increasing exports had reduced soyaoil stocks in Argentina and Brazil, but that had been offset by inventories in the United States, Oil World said, putting combined stocks at 1.57 million tonnes by end-February, up 25 percent from last year.