Experts of the European Commission announced the first forecasts of the production of oilseeds in the EU in 2023/24 MY.
With regard to oilseeds, the forecast of rape production in EU in 2023/24 MY is 19.8 million tons (19.6 million tons – the previous year), consumption – 24.8 (25.3) million tons, import – 5.8 (6.2) million tons, ending stocks – 0.8 (0.5) million tons.
The soybean harvest is expected to be 2.9 (2.5) million tons. Domestic consumption could be 16.5 million tons (almost the same as the previous season), imports are expected to be unchanged for the year at 14 million tons, and ending stocks could be 1.3 (1.2) million tons.
The forecast for sunflower production in the EU is 10.9 million tons (+1.7 million tons per year), its consumption is 11.8 (+0.8) million tons, imports are 1.5 (-0.7 ) million tons, and ending stocks are 0.9 million tons (no change).