Short-term outlook for EU cereals and oilseeds

Published 2024년 10월 24일

Tridge summary

The European Union's cereal production in 2024/25 is estimated at 260.9 million tonnes, which is around 7% below the 5-year average and 3% lower than the previous year, marking the lowest production in a decade due to adverse weather conditions and a decrease in cultivated area. The production of soft wheat and corn is particularly affected, while the production of oats, barley, and durum wheat has increased. This reduction in domestic production could potentially lead to a decrease in EU cereal exports. Additionally, the EU's oilseed production is expected to be 8% lower than the previous year, primarily due to a reduction in rapeseed cultivated area and adverse weather conditions affecting sunflower seeds, although soybean production has increased. The EU's oilseed trade balance remains negative, and imports of oilseed meals are down 5% year on year. However, protein crop production, driven by peas and broad beans, has increased by 12.6%.

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

Original content

EU cereal production in 2024/25 is estimated at 260.9 million tonnes, around 7% below the 5-year average and 3% below the previous year. EU cereal production is the lowest in the last decade due to adverse weather conditions affecting yields and quality of harvested grains and, in part, a reduction in cultivated area (4% below the 5-year average). Soft wheat and corn are most affected, while production of oats, barley and durum wheat increases. Reduced domestic production could result in a decrease in EU cereal exports. EU cereal exports are 13% below the 5-year average, while imports remain 7.5% above the 5-year average. Domestic demand for animal feed remains stable, with widespread availability of wheat for animal feed in the EU. EU oilseed production in 2024/25 is expected to be 29.7 million tonnes (-8% compared to the previous year), due to the reduction in rapeseed cultivated area and adverse weather conditions affecting sunflower seeds. In contrast, soybean production ...

Source: 3tres3