W52 Oats Update: Canadian Oat Output Drops in 2023; Turkey's Yields Surge to 410K MT

Canada Reduces Oat Production Despite Growing Demand

Canada, the leading global exporter of oats, is reducing oat production despite a growing market for oatmeal and oat milk. According to Statistics Canada's December 4 crop production report, 2023 oat production is estimated at 2.64 million metric tons (mmt), reflecting a 50% year-on-year (YoY) drop.. This reduction is attributed to a decrease in planted oat acres, reaching a record low of 2.53 million acres in 2023. Oat shipments in Oct-23 totaled 154,020 metric tons (mt), marking a 64% month-on-month (MoM) decrease and a 29% YoY decrease. Despite the production cut, the demand for oat-based products remains strong. Additionally, between August 1 and December 17, Canada saw a notable increase in oat exports, rising by 19.7% YoY to 651,800 mt.

Positive Impact of Recent Rains in Turkey Expected to Boost 2023 Oat Yields

The Chairman of the National Grain Council (UHK) has indicated that recent rains in Turkey have positively impacted the yield in the 2023 production season. The estimated upcoming yield for oats is expected to reach 410 thousand mt.

China's 2023 Grain Production Up 1.3% YoY Due to Expanded Sown Area

China's total grain production at the end of the 2023 season increased by 1.3% YoY. This production included rice, wheat, corn, barley, sorghum, buckwheat, and oats.. The sown area under grain in the country reached 118.969 million hectares (ha), reflecting a 0.5% YoY increase of 636 thousand ha compared to 2022.

W52 Spanish Cereal Market Prices Down Amid Holidays, Oats Slightly Rise

A downward trend in the Spanish markets has been observed during W52, particularly evident in the variation of weekly prices. The markets are currently experiencing minimal activity due to the Christmas holidays, as reported by the source. However, oats have shown an exception to this trend, recording a slight weekly rise of 0.26%, reaching USD 342/mt.