US lowers 2022/23 global oilseed production forecast by 1M tonnes

Published 2022년 12월 21일

Tridge summary

The USDA has lowered its global oilseed production forecast for 2022/23 by 1M tonnes due to decreased production of cottonseed, palm kernel, rapeseed, and sunflowerseed crops. The worldwide oilseed trade forecast has been raised due to higher Ukraine sunflowerseed exports. However, global meal production has been slightly reduced due to lower processing of certain crops, and global oil production has been lowered due to reduced Indonesian palm and palm kernel oil. The US season-average farm price for soyabeans remains at US$14/bushel. The report also discusses the impact of high domestic soyabean meal prices in India on trade flows and exports.

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

Original content

The United States Department of Agriculture (USDA) has lowered its 2022/23 global oilseed production forecast by 1M tonnes due to reduced cottonseed, palm kernel, rapeseed and sunflowerseed crops. In its Foreign Agricultural Service (FAS) Oilseeds: World Markets and Trade December report, the USDA lowered its worldwide oilseed production forecast to 644M tonnes. However, the USDA raised its forecast for oilseed trade due to higher Ukraine sunflowerseed exports. Global meal production was reduced marginally due to lower processing of Indonesian palm kernel, European Union (EU) soyabeans, and Ukrainian sunflowerseed despite higher crushing expectations for EU sunflowerseed. The forecast for global oil production was lowered due to reduced Indonesian palm and palm kernel oil while expectations for global oil trade were reduced due to lower volumes of palm kernel oil, in addition to lower exports of Ukraine sunflowerseed oil and Canada rapeseed oil. The projected US season-average ...

Source: UkrAgroConsult