Global September 2010/February 2011 exports of soyaoil are estimated to have surged 34 percent on the year to a 3-year-high of 5.1 million tonnes as business was won from palm oil, Hamburg-based oilseeds analysts Oil World said on Tuesday.
"Soyaoil increased its market share in world trade and consumption in the first half of this season, benefiting mainly from the developments in palm oil - lower than expected production and reduced exports," Oil World said. Argentina has confirmed its position as the world's top soyaoil exporter with September 2010/February 2011 shipments of an estimated 2.417 million tonnes, up from 1.650 million tonnes the same time a year earlier, it said. US soyaoil exports in the period are estimated at 1.046 million tonnes from 0.925 million tonnes and Brazil's at 0.657 million tonnes from 0.394 million tonnes.