USDA increased the forecast of sunflower oil exports from Ukraine

Published 2024년 3월 12일

Tridge summary

The U.S. Department of Agriculture (USDA) has revised its forecast for Ukraine's soybean exports in the 2023/24 marketing year to 3.1 million tonnes, an increase of 200,000 tonnes from its previous prediction. The USDA has also lowered its estimate for Ukraine's sunflower supplies due to a rise in domestic processing. Despite this, sunflower oil production is expected to increase to 6.1 million tonnes and sunflower meal to 5.865 million tonnes. The export forecast for sunflower oil has also been raised to 5.75 million tonnes.

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

Original content

The U.S. Department of Agriculture (USDA) increased the forecast of soybean exports and reduced the estimate of sunflower supplies from Ukraine in 2023/24 MY. This is stated in the March USDA report. Thus, analysts expect Ukraine to export 3.1 mln tonnes of soybeans in the current season, which is 200 thsd tonnes more than in the last forecast in January. This is due to the increase in the pace of supplies to date. At the same time, the export of soybean meal is expected to reach 700 thsd tonnes (-200 thsd tonnes). The supply of Ukrainian sunseed to foreign markets is forecast at 400 thsd tonnes. The decrease of 100 thsd tonnes compared to the January estimate is expected due to the growth of domestic processing. At the same time, the USDA experts expect the production of sunflower oil to ...

Source: UkrAgroConsult