From The Collaborative International Dictionary of English v.0.48 [gcide]:
Overproduction \O"ver*pro*duc"tion\, n.
Excessive production; supply beyond the demand. --J. S. Mill.
[1913 Webster]
From WordNet (r) 3.0 (2006) [wn]:
overproduction
n 1: too much production or more than expected [syn:
overproduction, overrun]