The Russian official oilseed harvest for the 23/24 season will exceed the result of last season

Published 2023년 12월 27일

Tridge summary

The official oilseed harvest for the 23/24 season is expected to exceed the results of the last season and set a new record, with preliminary results already showing increases in sunflower and soybean production. However, weather problems are expected to prevent a complete cleanup of the harvest in the 2023 calendar year, with sunflower and soybean harvests in new regions of the Russian Federation significantly exceeding last year's figures. The Russian Federation continues to increase export volumes of oils and meal, with the potential for new export records in the 23/24 season.

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

Original content

The official oilseed harvest for the 23/24 season will exceed the result of last season and update the record to 29.8-31 MMT in qualifying weight (+0.7-1 MMT by 2022). Preliminary harvest results - Rosstat has already reported a new record for the production of sunflower (16.7 MMT) and soybeans (6.74 MMT). However, the final result will be higher (17.5 MMT for sunflower and up to 6.85 MMT for soybeans are possible). A year ago, the results were 16.55 and 6 MMT, respectively. Rapeseed production decreased from 4.55 to 4.2 MMT in scoring weight. Weather problems again, like a year ago, will prevent the cleanup from being fully completed in the 2023 calendar year. About 500-600 thousand hectares of sunflower and 100 thousand hectares of soybean “went into winter.” The sunflower harvest in the new annexed regions of the Russian Federation will significantly exceed last year's figure and may exceed 1.5 MMT in the test weight. The import of raw materials within the former borders of the ...

Source: Oilworld