USDA analysts lowered sunseed crop forecast

In the August report, WASDE lowered the forecast of the global sunseed harvest in MY 2024/25 by 2.3 mln tonnes due to the lower forecasts for the major producing countries, including Ukraine. Now, the harvest is estimated at 52.5 mln tonnes, down 3.4 mln tonnes from the previous season.

For Ukraine, the forecast was lowered by 1 million tons to 13.5 million tons, for the EU – by 0.75 million tons to 10.15 million tons, and for Russia – by 0.5 million tons to 16 million tons.

The forecast of global sunseed processing in MY 2024/25 was decreased by 2.15 mln tonnes to 48.7 mln tonnes. In the previous season, the processing amounted to 52.5 mln tonnes. Decrease in the forecast by country:

• Ukraine – minus 1 million tons to 13.15 million tons,
• EU – minus 0.75 million tons to 9.05 million tons,
• Russia – minus 0.5 million tons to 15.7 million tons.

The ending stocks of sunseed in MY 2024/25 are estimated at 2.46 mln tonnes. Downward adjustments were made for the EU (-90 thsd tonnes) and Ukraine (-20 thsd tonnes). For Ukraine, the stocks at 150 thsd tonnes are the lowest since 2020/21 marketing year (96 thsd tonnes).

Tags: Ukraine, Russia, EU, USDA Report, sunseed, crop forecast