Characteristics and lessons drawn. - (:unkn) unknown (My University)
Long term analysis of the international oils and fats market over the period 1963-93 shows significant growth in both production and consumption. At the same time, the market was characterized by increasing competition and instability. Total consumption increased by 170 percent, from 32 Mt to 86 Mt. Vegetable fats accounted for the greatest proportion of this, increasing from 60 percent to 80 percent over the period. Conversely, the market for butter saw the biggest decline. Among the vegetable oils, palm oils displayed the greatest growth, reaching a share of 16 percent in 1993, while consumption of soya oils, traditionally the most popular, stagnated at 21 percent. Rapeseed and sunflower oils increased their market share to 20 percent . Growth on the oils and fats market since 1963 was fuelled by demographic growth (particularly in Asia, Central and South America and Africa), economic growth and improvements in living standards in many countries (the most notable being China). Production between 1963-93 could be seen in terms of three distinct phases: market equilibrium, 1963-70; surpluses and increased prices, 1973-86, as a direct result of the introduction of production incentives; and a production shortfall, 1986-93. These trends were accompanied by structural changes in world production. The USA and the EU were the two main market players in the 1960s, accounting for around 40 percent of the entire oils and fats market. The USA was both producer and exporter of oils and oilseeds, while the EU was a major importer. Other major producers were the USSR, China and India. However, with the emergence of new producers in the 1970s and 1980s, most notably, Brazil, Argentina, Malaysia and Indonesia, the dominance of the USA in particular was gradually eroded.
Long term analysis of the international oils and fats market over the period 1963-93 shows significant growth in both production and consumption. At the same time, the market was characterized by increasing competition and instability. Total consumption increased by 170 percent, from 32 Mt to 86 Mt. Vegetable fats accounted for the greatest proportion of this, increasing from 60 percent to 80 percent over the period. Conversely, the market for butter saw the biggest decline. Among the vegetable oils, palm oils displayed the greatest growth, reaching a share of 16 percent in 1993, while consumption of soya oils, traditionally the most popular, stagnated at 21 percent. Rapeseed and sunflower oils increased their market share to 20 percent . Growth on the oils and fats market since 1963 was fuelled by demographic growth (particularly in Asia, Central and South America and Africa), economic growth and improvements in living standards in many countries (the most notable being China). Production between 1963-93 could be seen in terms of three distinct phases: market equilibrium, 1963-70; surpluses and increased prices, 1973-86, as a direct result of the introduction of production incentives; and a production shortfall, 1986-93. These trends were accompanied by structural changes in world production. The USA and the EU were the two main market players in the 1960s, accounting for around 40 percent of the entire oils and fats market. The USA was both producer and exporter of oils and oilseeds, while the EU was a major importer. Other major producers were the USSR, China and India. However, with the emergence of new producers in the 1970s and 1980s, most notably, Brazil, Argentina, Malaysia and Indonesia, the dominance of the USA in particular was gradually eroded.
Keywords: consumption; exports; fats; imports; oils and fats industry; oils; oilseeds; plant oils; production; trends; world markets; Exports; Exports; Oils and fats; Imports; Imports; Oilseeds; Vegetable oils