EU: Less rapeseed and more soybean imports

Published Dec 29, 2023

Tridge summary

The USDA report predicts a decrease in rapeseed imports by the EU for the current marketing season, partly due to a lower supply in the European Union. The report also forecasts an increase in soybean imports to the EU for the 2023/2024 season, but a reduction in soybean stocks compared to the previous year. The projected EU rapeseed demand for the current season could only be covered for around 23 days, while the expected EU soybean consumption would cover expected exports for approximately 28 days.

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

Original content

USDA report: lower rapeseed imports According to the latest report of the US Department of Agriculture (USDA) on the international oilseeds market, it is expected that in the current marketing season, the Community will purchase 5.3 million tons of rapeseed abroad. It would be about 200 thousand. tons more than expected in November, but over 1.5 million tons less than in the 2022/2023 season. Greater supply of rapeseed Experts from Washington justify the increase compared to the previous forecast with Australia's broader export offer due to more optimistic forecasts of the rapeseed harvest in this country. However, USDA data also indicate a lower supply of rapeseed in the European Union in the 2023/2024 season. Therefore, stocks by the end of June next year will be significantly reduced compared to the previous year, i.e. by PLN 250,000. tons to 1.58 million tons. With this volume, the projected EU rapeseed demand of 25.65 million tonnes for the current season, including projected ...

Source: Farmer.pl