Tridge summary
Despite an 8% increase in harvested area, Bulgaria's oilseeds production is expected to remain steady at 2.4 million tonnes for the 2022-23 marketing year due to reduced yields from summer heat and drought. The rapeseed crop is projected to be 20% lower than the previous year at 299,250 tonnes, while sunflower production has grown by 4% to 2.077 million tonnes. Bulgaria has become the leading EU importer of price-competitive sunflower seeds from Ukraine, contributing to its growing crush, export of sunflower meal, and oil. However, local farmers express concerns over the impact of imported sunflower on local prices. The US Department of Agriculture's FAS expects higher oilseeds production for the 2023-24 marketing year if weather conditions improve and soil moisture reserves are restored, following significantly lower precipitation in the recent marketing year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Oilseeds production in Bulgaria will stay flat at 2.4 million tonnes in marketing year 2022-23 despite 8% more area harvested than the previous season due to lower yields from summer heat and drought, according to a Global Agricultural Information Network report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. The rapeseed crop for 2022-23 is projected at 299,250 tonnes, 20% lower than 2021-22, while sunflower production grew to 2.077 million tonnes, about 4% above the previous season. Bulgaria has become the top European Union (EU) importer of price-competitive sunflower seeds from Ukraine with a 40% share in total EU imports and also increased its crush. Bulgaria currently leads with 66% of total EU exports of sunflower meal and 47% of EU exports of sunflower oil. Farmers, however, have expressed concerns that the imported sunflower is depressing local prices. FAS Post Sofia’s early forecast for marketing year 2023-24 is for higher oilseeds ...
Source: UkrAgroConsult
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