US Department of Agriculture cuts global sunflower crop forecast by 10%

Published 2024년 12월 27일

Tridge summary

The US Department of Agriculture has revised its predictions for the global oilseed harvest in the 2024/25 season, expecting a 10% decrease in sunflower harvest to 50.4 million tons, with increases in Argentina and Kazakhstan. Rapeseed production is projected to drop by 2.9% to 87.2 million tons, although Russia's production is expected to rise by 19%. The soybean harvest is anticipated to total 425.4 million tons, a 3.5 million ton decrease from October forecasts, largely due to a 2.6% drop in U.S. production. Global oilseed consumption is estimated at a record 661.3 million tons, while stocks are expected to rise by 12.2% from the previous year to 147.7 million tons.

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

Original content

The US Department of Agriculture has adjusted its expectations for the global oilseed harvest in the 2024/25 season. The sunflower harvest will decrease by 10% compared to last year, to 50.4 million tons (the October forecast assumed a volume of 50.6 million tons). Thus, in the analytical report of the department, the data of which was reviewed by sfera.fm, it is indicated that an increase in the sunflower harvest is expected only in Argentina - by 2.7%, and in Kazakhstan - by 13.3%. At the same time, Russia will remain the leader in crop production with a production figure of 16 million tons, although forecasts were reduced due to severe weather conditions earlier this year. Also, according to the USDA, rapeseed production worldwide will decrease to 87.2 million tons, which is 2.9% less than in the 2023/24 season. At the same time, a record harvest of 5 million tons is expected in Russia - plus 19% year-on-year. Finally, the forecast for the soybean harvest in 2024/25 MY stopped ...

Source: Agrosektor