European Commission slightly increased the estimates of supply and demand of oilseeds in the EU in 2023/24 MY
The European Commission made upward adjustments to the supply and demand of major oilseeds in the EU in 2023/24 MY, including soybeans and sunflower.
In particular, the Commission increased the estimate of soybean production by 100 thsd tonnes to 2.8 mln tonnes (+0.4 mln tonnes per year), and also increased the forecast of domestic consumption of the oilseed by the same amount to 16.5 mln tonnes (+1).
The estimate of sunflower seed production in the EU increased by 200 thsd tonnes to 10.2 mln tonnes (+0.9 mln per year), and the expected consumption increased by 200 thsd tonnes to 10.7 mln tonnes (-0.1).
Read also
Ukrainian corn exports in March exceeded last year’s volumes by 14%
EU reduced imports of all oilseeds except sunseed since the start of the season
Odesa port to cooperate with Europe’s largest port as memorandum signed
Blockade of the Strait of Hormuz threatens a systemic shock to the food market
Ukraine Adjusts to Costly Spring Campaign and Builds a New Farming Model
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon