Global: December WASDE forecast values increased for oilseeds and oils for MY 2024/25

In its December WASDE forecast, the USDA raised its global oilseeds production for 2024/25 mainly due to higher soybean production, partially offset by a decline in rapeseed production to the lowest levels of the last three seasons. Sunseed production forecasts were raised for Ukraine and Russia, but offset by a serious decline in the EU. Sunseed The forecast for the global sunflower seed harvest remained stable at 50.5 million tons compared to 56 million tons last year. However, analysts revised upwards the forecast of sunseed production in Ukraine by 400 thousand tons to 12.9 million tons and in Russia by 300 thousand tons to 16.3 million tons, although both harvests are lower than last season. These increases were offset by a decrease in the forecast of sunseed production in the EU – by 650 thousand tons to 8.8 million tons. The global consumption of sunflower seeds in the current season was increased from 51.2 mln tonnes to 51.3 mln tonnes due to the increase in the forecast ...