In W35 in the oats landscape, the global price of oats fell by 0.23% week-on-week (WoW) to USD 340.52 per metric ton (mt) and dropped by 5.76% since the beginning of 2023. The primary reason for this decrease is an excess supply of oats on the international market.
Canada's oat production is expected to decline significantly by 53.5% in the 2023/24 season, hitting a 10-year low of 2.4 million metric tons (mmt). This significant reduction is primarily due to dry weather conditions and abnormally high temperatures in Canada's western region. The decline is marked by a 21.4% reduction in yield, down to 76.9 bushels per acre, and a substantial 40.9% decrease in the planted area, now totaling 2 million acres.
In northern Paraná, Brazil, the winter crops, such as wheat, black oats, and white grain oats, are developing satisfactorily and are in the grain filling and maturation stages. Harvesting has started, and yields are meeting initial expectations. However, despite favorable weather and good yield prospects, many farmers are disheartened because market prices are lower than the previous year, and high production costs are a burden. Meanwhile, in southern Paraná, white oat yields may be slightly lower than expected due to rust issues.
China has seen significant growth in its oat and buckwheat processing industry, with the number of large-scale processing enterprises increasing from less than 20 to over 150 in 2023 and the output value soaring from USD 135.64 million to over USD 2.33 billion. This transformation has been attributed to the National Oat and Buckwheat Industry Technology System, which has mobilized more than 150 researchers and established various research laboratories to support oat production and processing. As a result, oat production has become more efficient and water-saving, achieving substantial economic benefits in regions like Hebei Bashang, Inner Mongolia, and northern Shanxi.
Lastly, Croatia's agricultural crop harvests have declined, according to the country's statistical office. Oat production specifically decreased by 2.1% to 47 thousand mt.