Strategie Grains lowered its estimate of the oilseed harvest in the EU

This year, the production of major oilseeds in the EU countries may reach 32.64 mln tons, according to the December forecast of Strategy Grains. Experts lowered the estimate of the gross harvest from November’s 32.83 mln tons on the back of downward adjustments of sunseed and soybean harvest.

Thus, the consulting company raised the forecast of rapeseed production from 19.74 mln tonnes to 19.76 mln tonnes (+1.6% compared to 2022), referring to the higher than expected figures in Denmark and Western Europe.

The estimate for sunseed in the EU was adjusted from 10.1 million tons to 10.05 million tons (+7% by 2022) due to low harvest in Romania.

The soybean harvest forecast was also lowered and now stands at 2.83 mln tonnes (+13%) compared to November’s 2.99 mln tonnes. The adjustment was made due to the expected decline in oilseed production in Romania, Italy, Hungary and France.

Tags: EU, soybean, sunseed, rapeseed