Turkey will reduce oilseeds production by 17% – forecast

Analysts of the U.S. Department of Agriculture (USDA) expect a decline in the gross harvest of oilseeds in Turkey in the season-2023/24. According to the new estimates, the harvest in the region will decrease by 17% compared to the forecasted level in 2022/23 MY and will amount to almost 3 mln tonnes.

“The production of sunflower seeds in 2023/24 MY may reach 1.6 mln tonnes, which is 300 thsd tonnes less than last year. The soybean harvest will decrease to 140 thsd tonnes from 145 thsd tonnes. The gross cotton harvest will be reduced to 1.25 million tons from 1.6 million tons,” the USDA said.

As noted in the materials, the threat of a serious drought in Turkey may further affect the final production figures. According to the National Meteorological Service, the total precipitation from October 2022 to January 2023 was more than 40% below the average for the entire history of observations, which was the driest period for the country in about 60 years.

“Increased imports of sunflower seeds and soybeans are expected to partially offset the projected decline in oilseed production,” the USDA summarized.

Tags: sunflower, Turkey, soybean