USDA lowered the forecast of sunseed production in Ukraine in MY 2024/25
In its July report, WASDE lowered the forecast of the global sunflower seed harvest in 2024/25 MY by 0.6 mln tonnes to 54.8 mln tonnes. The main reductions were in Ukraine – by 0.2 mln tonnes to 14.5 mln tonnes, and in Russia – by 0.5 mln tonnes to 16.5 mln tonnes, ASAP Agri analysts wrote.
It is expected that Turkey will harvest 1.6 mln tons of sunseed. In addition, the production of the oilseed in China may increase by 0.15 mln tonnes to 1.75 mln tonnes.
World production of sunseed and processed products. Source: WASDE report for July 2024
WASDE analysts also reduced the global consumption and processing of sunflower seeds to 54.9 (-0.6) mln tonnes and 50.8 (-0.57) mln tonnes respectively. The forecasts for Ukraine and Russia were revised downward by 200 and 500 thsd tonnes, respectively.
“At the same time, in 2024/25 MY the forecast of global sunfseed ending stocks was increased by 0.1 mln tonnes to 2.6 mln tonnes, mainly due to the upward adjustment for China – 280 thsd tonnes (+113 thsd tonnes),” – analysts comment.
The day before, Ukroliyaprom announced the forecast of sunseed production in Ukraine at 13 mln tonnes against 12.76 mln tonnes in 2023/24 MY (+2%).
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