A severe drought in Europe caused considerable damage to sunflower crops, which is why analysts at Oil World (Germany) significantly reduced the forecast for oilseed production in the EU in 2022/23 MY to 9.81 million tons compared to 10.5 million tons in 2021 / 22 MY, despite the expansion of sown areas – up to 4.9 (4.52) million hectares. It is reported by APK-Inform.
In particular, experts reduced the sunflower harvest forecast for the new season in France to 1.6 million tons against 1.9 million tons last year, as well as in Romania to 2.6 (3) million tons, Hungary to 1, 7 (1.8) million tons and Spain – up to 0.7 (0.8) million tons.
It is also predicted that against the backdrop of a reduction in the sunflower crop in the EU, oilseed stocks in 2022/23 MY may decrease to 1.15 million tons against 1.5 million tons in the previous season.
At the same time, analysts raised the forecast for the rapeseed crop in the EU in 2022/23 MY – by 0.4 million tons, to 18.88 million tons, thanks to upward adjustments for France – up to 4.35 million tons (3.43 million tons in season 2021/22). In addition, an increase in oilseed production in Germany is forecasted – up to 4 (3.61 million tons). The import of rapeseed from the EU countries, according to the forecasts of analysts at Oil World (Germany), may slightly increase this season – up to 5.7 million tons against 5.62 million tons in 2021/22 MY.
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