Recovery in the global oilseed industry

게시됨 2023년 5월 15일

Tridge 요약

The USDA's 2023/24 global agricultural supply and demand estimates show an increase in production, crushing, and ending stocks in the global oilseed industry. This is largely due to an increase in soybean production in South America and the US, as well as higher sunflower and canola production in the EU and Canada. However, Australia's canola production is forecast to decline, which could affect the global canola trade balance. Oil production is also expected to increase, but the global oilseeds trade growth is slowing. The 2023/24 season should close with an increase in global soybean stocks. The USDA emphasizes the need to monitor global weather patterns and promote sustainable agricultural practices.

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원본 콘텐츠

The United States Department of Agriculture (USDA) released its 2023/24 global agricultural supply and demand estimates, presenting an optimistic forecast for the global oilseed industry. The projected numbers show an increase in production, crushing and ending stocks compared to the last year of marketing. This is predominantly driven by an increase in soybean production in South America and the US, along with higher sunflower and canola production in the EU and Canada. drought recovery South American oilseed production is expected to rebound by 31.9 million tonnes after last year's devastating drought in Argentina, Brazil, Paraguay and Uruguay. This increase is expected to be a result of an increase in production area, signaling a return for these agricultural powerhouses. Questions about canola However, the global scenario for oilseeds is not entirely positive. Australia's canola production is forecast to decline due to lower yields after three consecutive years of exceptional ...

출처: Agrolink