Record oilseed production offsets EU rapeseed production decline

Published 2024년 11월 25일

Tridge summary

The 2024/25 season is expected to see a record high in global oilseed production, reaching 682.2 million tonnes, driven by increased yields in soybeans and palm kernels, despite a decline in EU rapeseed production, as reported by UFOP and USDA. Soybean production is projected at 425.4 million tonnes, with palm kernel production rising by 4% to 20.9 million tonnes. The USDA's estimates also cover peanuts, cotton, and copra. The growth in soybean supplies is linked to deforestation, which the EU seeks to regulate through the delayed EUDR. UFOP advocates for an EU protein strategy, highlighting rapeseed as a crucial non-GMO protein source.

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

Original content

Global oilseed production is set to hit another record this season, driven mainly by peak soybean yields and increased palm kernel production, offsetting lower rapeseed production in the EU, according to the German Union for the Promotion of Oilseeds and Protein Plants (UFOP). Current estimates from the US Department of Agriculture (USDA) suggest that global oilseed production will peak at around 682.2 million tonnes in 2024/25, up almost 4% from the previous season. Global oilseed crushing is also set to peak at 556.9 million tonnes, up 10.8 million tonnes from last season. Global ending stocks are set to total 147.7 million tonnes, up 16 million tonnes from the previous year and well above the previous record of 134 million tonnes in 2018/19. Global oilseed trade is set to increase by 3.1 million tonnes to 207.4 million tonnes. Soybeans are forecast to be harvested more than ever before in the current marketing year, with production expected to reach 425.4 million tonnes. Global ...

Source: Milknews