Global sunflower production will increase by 3% next season

Published 2023년 12월 21일

Tridge summary

Global sunflower seed production for the 2023/24 season is forecasted to increase by 3% to 56.7 million tons, with higher harvests expected in Russia and Ukraine, but decreases in the European Union, Argentina, Turkey, and the United States. Sunflower processing volume is expected to remain the same as last season, with higher refining volumes in Ukraine, Russia, and the USA, and global sunflower oil production is forecasted to remain at the same level as last season at 22.1 million tons. Exports of sunflower oil to China, India, and other countries are expected to recover, while US sunflower oil exports are forecasted to increase as new crops arrive at processing plants. World ending sunflower oil inventories are forecasted to be relatively low at 4.23 million tonnes by the end of September.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The German analytical agency Oil World forecasts global sunflower seed production in the 2023/24 season at 56.7 million tons, which is 3% more than in 2022/23. Oil World expects the sunflower harvest in Russia and Ukraine to be about 8% higher than in 2022. At the same time, in the European Union, Argentina, Turkey and the United States, production of this crop will decrease compared to last year. Global sunflower processing volume in 2023/24 is estimated to reach 52.5 million tons, roughly the same as last season. Higher refining volumes are expected in Ukraine, Russia and the USA. It is expected that global sunflower oil production will remain at the level of last season and amount to 22.1 million tons. Oil exports to China, India and many other countries are forecast to recover from declines observed in the ...

Source: Agrosektor