The global sunseed harvest in 2023/24 MY will amount to 55.7 mln tonnes

The global production of sunflower seeds in the season-2023/24 (September 2023-August 2024) may reach 55.7 mln tonnes, according to the analysts of the Hamburg-based OilWorld analytical agency (Germany). They expect that the gross harvest of the oilseed will increase by 1.4 mln tonnes in 2022/23 MY, while earlier experts expected the growth by 1.9 mln tonnes.

According to the German experts, the sunflower harvest in Ukraine and Russia in the upcoming crop year is expected to be high – 15.7 mln tonnes and 14 mln tonnes respectively, which will offset the decline in Turkey, Romania, Bulgaria, Spain and Argentina.

“The weather conditions in Ukraine and Russia over the past 2 months were favorable for the development of sunflower crops and high yields,” the agency explains, “At the same time, drought significantly worsened the condition of oilseeds in Romania and Turkey. In Argentina, the sunflower sowing campaign is delayed due to the lack of precipitation.”

Moreover, while the volumes of seed processing in 2022/23 MY are expected to increase by 2.75 mln tonnes to 51.13 mln tonnes, in 2023/24 MY – only by 0.07 mln tonnes to 51.20 mln tonnes.

“This will also slow down the global supply of oil and meal in the new season,” OilWorld (Germany) summarized.

Tags: Turkey, Romania, Brazil, EU, Spain, sunseed, Argentina, crop forecast, Ukraine, Russia, Bulgaria