Analysts at consultancy Strategie Grains cut forecasts for sunflower and soybean crops in the European Union this year, citing crop damage caused by the recent drought. On the contrary, the estimate for the gross harvest of rapeseed increased.
Thus, experts estimate the volume of sunflower production in the EU this year. at 9.17 million tons (-1.2 million tons compared to the previous report), which is almost 12% below the level of 2021, despite a significant increase in acreage.
As for soybeans, the consulting company lowered its oilseed crop forecast for 2022 to 2.49 million tons (2.78 million tons), which is 7.3% less than last year.
“For sunflower and soybean seeds, extremely hot and dry weather over the past few weeks has reduced yield potential in most major European countries,” Strategie Grains said in a statement.
As for rapeseed (the main oilseed for the EU), experts raised the estimate of this year’s harvest to 19.15 million tons, which is 12.7% higher than in 2021.
“Conditions for growing rapeseed have been good this season in most of the production areas, and harvest results have been even better than previously expected,” said Strategie Grains.