Sunflower oil

Global oilseed production could increase by more than 2022 million tons in 23/30

In their July report, analysts at Oil World forecast an increase in global oilseed production in 2022/23 by 31,5 million Tonnen to 607,8 million tons, assuming weather conditions in the main producing countries and the recovery of oilseed profits, particularly in Canada, Brazil, Paraguay and partly in the USA. In addition, increasing the global oilseed harvest by expanding cultivated areas by 3,2 million Hektar promoted on 298,8 million hectares.

Especially with regard to the forecast of the worldwide soybean production In 2022/23 crop growth could be 30 million tonnes per year – to 383,3 million tonnes, but compared to June estimates the forecast has been slightly lowered (385,1 million tonnes). The downward revisions were made by the USA for which analysts have lowered the forecast for the oil harvest to 122,5 million tons from 125,7 million tons after the previous forecast (120,7 million tons in 2021/22).

Soy production in Brazil may rise up to 144 million tonnes, compared to 126 million tonnes in 2021/22 (144 million tonnes in the previous forecast), with some experts expecting the Brazilian crop to rise Soybeans can increase to 146-148 million tons. Experts had forecast soybean production in Argentina at 45,5 million tons in June, compared to 45 million tons (42,8 million tons in 2021/22).

The analysts have also slightly reduced their forecast for the global ending stock of soybeans in 2022/23 – from 98 to 96,4 million tons (previous year 86,7 million tons).

Note that in their report, the analysts also forecast the global production of Sunflowers in 2022/23 to 52,1 (51,9; 57,9) million tonnes and cotton to 42,3 (42,5; 42) million tonnes, but the forecast for Rapeseeds decreased slightly – to 72,5 (72,8; 65,5) million tonnes.

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