Turkey will reduce oilseeds production by 17%

Published Mar 15, 2023

Tridge summary

The U.S. Department of Agriculture (USDA) forecasts a 17% decrease in Turkey's oilseed gross harvest for the 2023/24 season, with sunflower seed production expected to drop by 300 thousand tonnes to 1.6 million tonnes, and soybean harvest to decrease by 5 thousand tonnes to 140 thousand tonnes. The severity of this decline is compounded by the risk of serious drought in the country, as total precipitation from October 2022 to January 2023 was over 40% below average, marking the driest period in roughly 60 years. To mitigate the effects of this production drop, Turkey is predicted to increase its imports of sunflower seeds and soybeans.

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

Original content

Analysts of the U.S. Department of Agriculture (USDA) expect a decline in the gross harvest of oilseeds in Turkey in the season-2023/24. According to the new estimates, the harvest in the region will decrease by 17% compared to the forecasted level in 2022/23 MY and will amount to almost 3 mln tonnes. “The production of sunflower seeds in 2023/24 MY may reach 1.6 mln tonnes, which is 300 thsd tonnes less than last year. The soybean harvest will decrease to 140 thsd tonnes from 145 thsd tonnes. The gross cotton harvest will be reduced to 1.25 million tons from 1.6 million tons,” the USDA said. As noted in the materials, the threat of a serious drought in Turkey may further affect the final production figures. According to the National Meteorological Service, the total precipitation from October 2022 to January 2023 was more than 40% below the ...

Source: UkrAgroConsult