Black Sea & Danube Region. Oilseed Crop Forecast, 2024

UkrAgroConsult

Article author:

Svitlana Kupreeva

Oilseed Market Analyst

The Black Sea region is a powerful producer of oil crops. The total harvest of sunseed, rapeseed and soybeans in Ukraine, Romania, Bulgaria, Moldova and russia in 2023/24 will be 59 M mt, which is about 11% of the world harvest of these crops.

Taking into account the conditions and peculiarities of each country, it is expected that in 2024 the oilseeds crop in the Black Sea region will increase, the share of sunseed is expected to be 60%, rapeseed – about 18%, soybeans – almost 22%.

Sunseed

• Total area in all countries of the Black Sea region is expected to grow (+3% by 2023);
• Harvest – (+2.6% y/y).

Rapeseed

• Planted area – (-0.3% by 2023).
• The regional harvest – (-2.1% y/y).

Soybean

• UkrAgroConsult forecasts record area and production of soybeans in 2024 in the Black Sea and Danube region.
• Sown area – (+6% to 2023);
• Harvest – (+4%).

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Tags: rapeseed, Moldova, crop forecast, Ukraine, Russia, Bulgaria, Romania, soybean, Black Sea region, sunseed