一Japan Oilseed Processors Association is a nonprofit industry organization comprised of companies involved in the production and processing of vegetable oils.

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Top 10 News Stories in the Vegetable Oil Industry

Top News Stories in the Vegetable Oil Industry Since 1975 (yearly)

1975 International average prices for oil production raw materials such as soybeans plummet
1976 Mass import of palm oil
1977 Chicago soybean price plummets from $10 to $5
1978 Record high for yen exchange rate
1979 Consumption of cooking oils surges past 1.2 million tons
1980 United States soybean production declines due to heatwave
1981 Significant reduction in demand for mixed feed (defatted soybeans)
1982 Record-breaking soybean harvest in the United States
1983 Major decline in United States soybean production
1984 Commercial cooking oil prices reach around 5,000 yen
1985 Negotiation with the United States related to soybean FM problems
1986 Long-term drop in cooking oil prices
1987 Prices for 18-liter cooking oil drum drop to lowest price ever (1,650 yen)
1988 Large-scale drought in the United States causes soybean production to drop 20%
1989 Processing volume for rapeseed reaches highest levels ever (1.7 million tons)
1990 Long-term stability in cooking oil prices
1991 Soybean meal import volume closes in on 800,000 tons
1992 Soybean meal import volume closes in on 900,000 tons
1993 Major reduction in Uruguay Round fat and oil tariffs announced
1994 International demand for oils increases due to demand in China and India, oil value closes in on 50%
1995 Great Hanshin Earthquake causes major losses for oil manufacturing factories
1996 Japanese government confirms the safety of genetically modified crops, oils made from these raw materials imported for the first time
1997 Raw material costs increase while intense competition reduces domestic value of oil products in Japan, leading to severe worsening of financial conditions for industry companies
1998 Costs continue to rise amid the worst mid-term performance since the oil crisis
1999 Numerous companies report losses in March accounting statements, signs of recovery in business performance appear by mid-term statements in September
2000 Following repeated bumper crop yields, international demand for oilseeds wanes. Value for both raw materials and products have dropped to levels rarely seen, and exchange rates remained fairly stable for the full year.
2001 Numerous major oil manufacturers announce business integration plans
2002 Two major corporate groups come into existence, Honen Ajinomoto Oil Mills and Nisshin OilliO Group
2003 International soybean market prices soar, rapeseed maintains a high value, and prices for other oils such as sesame and cottonseed go up, worsening oil manufacturing trade terms dramatically
2004 Restructuring of The Nisshin OilliO Group, Ltd. and J-Oil Mills, Inc.
2005 Pressed soybean oil production drops further, reaching 3 million tons. Domestic Japanese oil production drops nearly 5%
2006 International demand for biofuel surges, accelerating the increase of global vegetable oil prices
2007 Prices of raw materials for oil manufacturing surge, creating uncertainty for the future. Soybeans and rapeseed exceed $11/bushel and $450/ton, respectively
2008 Dizzying changes in the market as international prices for oil and oilseeds surge and freight and other expenses reach record highs before plummeting back down
2009 Pressed soybean oil production falls to 2.5 million tons, pressed rapeseed oil production drops below the previous year
2010 International prices of oilseeds and products rise, poor domestic market conditions in Japan hit oil production industry hard
2011 The Great East Japan Earthquake and tsunami disaster causes damages to oil production company facilities and equipment
2012 Chicago soybean prices hit record highs, maintaining elevated value
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