At the Japan Oilseed Processors Association, we select the top 10 news stories for the vegetable oil industry every year through voting by media personnel handling this field.
In 2012, irregular weather patterns struck major global farming areas, resulting in drastic declines in crop production. Soybeans and rapeseed, the two major raw materials for vegetable oil production, were also affected, and the poor crop yields were also accompanied by surging international prices. As a result, it was a tough year for the oil manufacturing industry all over the world.
Although the Top 10 News Stories in the Vegetable Oil Industry for 2012 reflect these conditions, the Japan Oilseed Processors Association is also celebrating its 50th anniversary this year thanks to your support and patronage.
We introduce this year’s Top 10 News Stories in the Vegetable Oil Industry and hope that 2013 will be a more positive year.
| Ranking | Item |
| 1 | Chicago soybean prices hit record highs, maintaining elevated value |
| 2 | Global soybean production drops drastically due to factors such as the first major drought in the United States in 56 years along with drought in South America |
| 3 | Soybean oil production drops below 2 million tons, rapeseed oil exceeds the previous year, achieving the highest level of production on record |
| 4 | Canadian rapeseed production falls below predictions despite the 2nd largest crop yields on record, leading to an air of disappointment |
| 5 | Surging raw material prices lead to multiple price revisions for numerous products |
| 6 | Japan Oilseed Processors Association celebrates 50th anniversary of founding, becomes general incorporated association |
| 7 | Blending ratio of soybean meal drops due to high prices worldwide, blending ratio of cheaper rapeseed meal surges |
| 8 | Economic stagnation contributes to continuing slowed consumption, affecting vegetable oil pricing as well |
| 9 | Demand for soybeans continues explosive growth in China, exceeding 60 million tons in total import volume |
| 10 | Extremely high yen exchange rates continue throughout the year |
| Runner-up | Fierce debate continues related to centralized food labeling problems even after consideration committee report |
Note: Chosen by votes from 9 oil production industry trade paper companies and the chairman of the Japan Oilseed Processors Association.
