Global 2022/23 oilseed production forecast lowered as Ukraine war bites
Published Jun 13, 2022
Tridge summary
Global 2022/23 oilseed production is forecast at nearly 647 million tons, slightly lower compared to May, as reduced sunflowerseed in Ukraine and rapeseed in the European Union more than offset gains for soybeans in Ukraine and Zambia and rapeseed in Australia, the U.S. Department of Agriculture (USDA) said in its latest monthly report.
Original content
Global 2022/23 oilseed production is forecast at nearly 647 million tons, slightly lower compared to May, as reduced sunflowerseed in Ukraine and rapeseed in the European Union more than offset gains for soybeans in Ukraine and Zambia and rapeseed in Australia, the U.S. Department of Agriculture (USDA) said in its latest monthly report. Oilseed exports are raised on Australia rapeseed and Ukraine soybeans which exceed a reduction for Argentina sunflowerseed, it said, adding that global vegetable oil trade is slightly lower on reductions for Ukraine sunflowerseed oil exports which more than offset gains for Turkey sunflowerseed oil and Canadarapeseed oil exports. Global protein meal exports are slightly lower this month following reduced sunflowerseed production in Ukraine as well as lower rapeseed meal in India. The USDA said global oilseed stocks are up nearly 1 million tons primarily on larger Argentina soybean stocks. The projected U.S. season-average farm price for soybeans ...
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