Analysts of the International Grains Council (IGC) announced an estimate of global sunflower production in the season-2023/24 at the level of 56.9 million tons, which is 2.8 million tons higher than in 2022/23 MY, as well as 700 thousand tons more than the final result of 2021/22 MY.
As noted by experts, the adjustments occurred against the backdrop of improved views of the harvest in Ukraine and the EU countries due to favorable weather conditions for the development of crops.
In addition, IGC notes that in 2023/24 agricultural year European agricultural producers will be able to thresh about 10.5 million tons of sunflower (+14% to 2022/23 MY). Ukraine is expected to harvest 15.3 million tons of sunflower (+9%), but experts emphasize that the forecast for this region “is vague, given the ongoing conflict”.
According to IGC estimates, Russia will once again remain the world’s leading sunflower producer in the new season, once again receiving 16.4 million tons of oilseed.