Oilseeds production expected to reach new record levels, FAO Food Outlook report says

Published on12 June, the FAO’s bi-annual Food Outlook report said the increase in soyabean production was expected to more than offset forecast declines in rapeseed and sunflowerseed output.

Global soyabean production in 2024/25 was forecast to increase for the third successive season, up 6.1% year-on-year and marking a new high of 422.5M tonnes.

“The expected growth is largely driven by forecasts of an all-time high crop in Brazil, due to a further area expansion coinciding with recovering yield levels amid generally favourable weather conditions,” the report said.

However, protracted dryness across main producing regions in the southern part of South America could lead to stagnating output in Argentina and a reduced crop in Paraguay.

In the northern hemisphere, production in the USA had rebounded from the reduced 2023/24 harvest, while India harvested a record crop following generally favourable monsoon rainfall. Production in China remained largely stable.

World rapeseed production decreased by 5.4% in 2024/25, largely due to smaller harvests in Canada and the European Union (EU) due to adverse weather conditions.

“Lower plantings due to relatively unattractive prices, coupled with unfavourable weather conditions in major producing member states, reduced output for the bloc to a four-year low in 2024/25,” the report said.

In Canada, hot and dry conditions during the growing period held back the rapeseed harvest to a below-average crop.

In Australia, the area planted was well above its10-year average level, despite being slightly lower than the previous season, resulting in the fourth largest rapeseed production on record.

In Asia, rapeseed production in China reached an all-time high due to continued area expansion, while India harvested a near-record crop.

Global sunflowerseed production was expected to decline in 2024/25, largely reflecting lower harvests in the Black Sea Region following persistent dryness across main producing areas.

In both the Russian Federation and Ukraine, persistent dryness slashed yields to multi-year lows.

Production in the EU also declined markedly, with sharply lower yield levels more than offsetting a moderate increase in plantings.

Meanwhile, Argentina was forecast to produce close to record levels due to largely favourable growing conditions.

Issued twice a year, the Food Outlook report includes reviews of market supply and utilisation trends for the world’s major foodstuffs, including cereals, oil crops, sugar, meat, dairy and fish. It also looks at trends in ocean freight rates.

Tags: oilseeds, FAO