USDA analysts lowered the estimate of world production of oilseeds in 2023/24 MY to 660.99 million tons

Published 2023년 12월 12일

Tridge summary

The USDA reduced their estimate of global oilseed production in the 2023/24 season to 660.99 million tons, largely due to decreased harvest forecasts in Brazil and the US. The updated data shows that soybean production is expected to reach 398.88 million tons, while rapeseed is anticipated to reach 86.98 million tons and sunflower is forecasted to reach 56.8 million tons. However, world exports of oilseeds were increased to 196.8 million tons, and processing volumes for all oilseeds is now estimated at 542.48 million tons.

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

Original content

Analysts from the US Department of Agriculture (USDA) in their December report lowered the estimate of global oilseed production in the 2023/24 season from November 661.46 million tons to 660.99 million tons (633.52 million tons in 2022/23 agricultural year). According to experts, the adjustments occurred against the backdrop of reduced oilseed harvest forecasts in Brazil and the United States of America. The portal Agrosektor.kz reports this. Thus, the harvest of main oilseeds in 2023/24 MY, according to updated data, will amount to 542.66 million tons (542.98 million tons in November monitoring; 511.42 million tons in 2022/23 MY), including production soybeans are now expected to reach 398.88 million tons (400.42 million tons a month earlier), rapeseed - 86.98 million tons (85.58 million tons), sunflower - 56.8 million tons (56 .98 million tons). The assessment of world exports of oilseeds, on the contrary, was increased - from 194.57 million tons to 196.8 million tons (201.84 ...

Source: Agrosektor