EU olive, sunflower oil surge leads vegetable oil supply rebound

Production of vegetable oils and fats in the European Union is set to rebound in the next season as sunflower seed and olive oil output jumps, Oil World said. Sunflower oil production in the EU may top 2.9 million metric tons in the 2013-14 season starting Oct 1, the most on record and 16% higher than a year earlier, the Hamburg-based researcher said in an e-mailed report. Olive oil output will surge 40% from the prior season, helping bring total EU production of 17 oils and fats to 22.6 million tons, 3.6% more than a year earlier.