Soybean is the world’s most important oilseed crop

Since 2000, global oilseed production has nearly doubled. Soybean is the world’s most important oilseed crop, accounting for 61 per cent of total oilseed production. Soybean farming has been heavily expanded over the past decades, especially in North and South America, in order to meet the growing demand for high-quality feed protein. At 363 million tonnes, the current crop year’s soybean harvest is expected to be larger than ever. Production of palm fruits is also forecast to grow compared to 2019/20. It is seen to rise approximately 3 per cent to 20 million tonnes in the current crop year.

Global rapeseed production is expected to decline marginally on the year to 69 million tonnes. According to Agrarmarkt Informations-Gesellschaft (mbH), this outlook is based on harvest declines in major rapeseed producing countries, such as Canada, China and India. Global rapeseed production increased 14 per cent over the past decade and as much as 85 per cent compared to the year 2000.