Sunseed in the center of the October USDA report
USDA’s October report forecasts slightly higher global sunseed production and consumption in MY 2024/25. The global harvest is estimated at 50.7 mln tons, up 0.2 mln tonnes compared to September, but down 5.4 mln tons compared to last year.
Consumption is forecast at 51.3 mln tons, up from 50.9 mln tons in September.
The main changes concern Argentina, where the forecast for sunflower harvest and consumption was increased by 200 thsd tons each to 4 mln tons and 3.5 mln tons, respectively. For the EU, the consumption forecast was increased by 150 thsd tons to 8.75 mln tonnes. Forecasts for Ukraine (12.5 mln tons), Russia (17.1 mln tons) and Turkey (1.55 mln tons) remained unchanged.
The global sunseed stocks remained at 2.3 mln tons, which is 0.8 mln tons less than last year.
In the October report of WASDE, the forecast of global exports for MY 2024/25 remained at 2.3 mln tons, including the forecast for Russia – 350 thsd tons, Ukraine – 230 thsd tons, EU – 400 thsd tons, Moldova – 330 thsd tons and Kazakhstan – 200 thsd tons. As for imports, they are estimated at 2.1 mln tonnes, with the forecast for Turkey at 450 thsd tons, China – 200 thsd tons and EU – 400 thsd tons.
Earlier, USDA in its report predicted the lowest sunfseed harvest in Turkey in a decade. The forecast was reduced by 300 thsd tons compared to the previous forecast to 1.25 mln tonnes.
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