EU to increase oil production in MY 2024/25 – forecast

Production of oilseeds in the EU countries in the season-2024/25 may amount to about 32.64 million tons against 33.015 million tons in 2023/24 MY, experts of the Foreign Agricultural Service of the U.S. Department of Agriculture forecast. Experts note that the decline will be due to a possible decrease in oilseed yields in the coming agricultural year.

At the same time, the output of vegetable oil in the EU is expected to grow – from 18.48 million tons to 18.773 million tons. According to experts, sunflower and olive oil will provide the growth of indicators, while the production of rapeseed oil is likely to decrease. Experts also note a tendency to increase domestic consumption of oils in Europe as a result of population growth in the region.

Production of meal, according to experts’ forecasts, will decrease from 31.132 million tons to 31.043 million tons, despite higher demand from the livestock sector, which, according to experts’ expectations, will be satisfied at the expense of feed grain.

Tags: edible oils, crop forecast, EU, oilseeds