The US Department of Agriculture predicts global production of oilseeds in the 2023/24 marketing year to reach a peak of around 661.0 million t, with an increase in processing and final stocks as well. The increase in soybean production is causing concerns over deforestation, leading to the introduction of the EU regulation for deforestation-free products, which the UFOP supports. The regulation will have a transition period of 18 months and will require proof of origin for cultivated areas.
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12/21/2023 | 09:46:00 | ID: 38462 | Department: Agriculture | plant Berlin (agrar-PR) - According to current estimates from the US Department of Agriculture (USDA), global production of oilseeds in the 2023/24 marketing year is expected to reach a peak of around 661.0 million t, around 4% above the previous year's level According to the USDA's latest forecast, global processing of oilseeds will rise to a peak of 542.5 million t, which would be around 19.1 million t more than in the 2022/23 marketing year. Global final stocks are expected to amount to 131.7 million t, 11.5 million t above the previous year's level. The record value of 134.0 million t from the 2018/19 season is still missed. Global trade in oilseeds is expected to fall by 5 million t to 196.8 million t. At around 398.9 million t, more soybeans will be harvested in the current marketing year than ever before. Global production of sunflower seeds is also expected to increase by 8% year-on-year to 56.8 million t, in ...
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