The EU will increase oilseed processing in the 2024-25 agricultural year

Published 2024년 3월 29일

Tridge summary

The European Union is set to see a 2% increase in its oilseed processing volume in the 2024-25 agricultural year, reaching 48.4 million tons, driven by expected rises in sunflower and soybean processing due to favorable weather conditions. Sunflower production is estimated to hit 10.7 million tons and soybean production at 3.1 million tons. However, rapeseed processing is anticipated to remain stable at around 24 million tons, potentially impacted by a decrease in harvest. The EU has also experienced a significant uptick in imports of sunflower and rapeseed meal, especially from Russia, Belarus, and Ukraine, with exports of these meals to the EU increasing substantially in the current agricultural year.

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

Original content

In the 2024-25 agricultural year, the European Union will increase the volume of oilseed processing by two percent from the level of the last agricultural season - to 48.4 million tons. This was reported by the APK-Inform news agency with reference to the new forecast of the European Commission. First of all, the increase will be contributed by sunflower and soybeans, for which the figure will increase by 4.5 and 2.8 percent – to 9.8 and 14.5 million tons. Two factors should contribute to this. The first is expectations for an increase in the yield of these crops by five and 11 percent, respectively. This is due to favorable weather conditions, which should increase crop yields. The second is to maintain their imports at a level not lower than the current agricultural year. Neither the European Commission nor other analysts provide specific forecasts for it. Also, separate data on the production of oil, meal and other processed products is not provided. The specific amount of the ...

Source: Rosng