Slightly more than 385 million tons of rapeseed and soybeans can be produced in the world by the end of the 2022/23 marketing year. This forecast was published by experts from the Hamburg analytical agency OilWorld (Germany) in their report. It is noted that the figures are likely to increase to new record levels.
Thus, German experts expect the growth of world production of soybeans next season by 34 million tons compared to the current season, under favorable weather conditions in the main oilseed producing countries.
“In the United States, the gross soybean harvest is projected at 125.7 million tons (+5 million tons per year), in Brazil – 144 (+18) million tons, Argentina – 45 (+3.2) million tons, Paraguay – 10 (+6) million tons, China – 18.2 (+1.8) million tons,” the report says.
As for rapeseed, here the estimate may rise due to the restoration of the oilseed crop in Canada and the European Union – from 12.6 million tons (estimated for 2021/22 MY) to 19.6 million tons (2022/23 MY) and from 17.39 million tons to 18.62 million tons, respectively.
“However, in Australia, the harvest may drop to 6.5 (7) million tons, in India – to 10.1 (10.3) million tons, in Ukraine – to 2.6 (3.13) million tons,” the statement said . analytics.