The volume of world sunflower production in the season-2023/24 may reach 56.7 million tons, according to data from the Hamburg-based analytical agency OilWorld (Germany). Experts expect an increase in the oilseed crop to the level of 2022/23 MY by 3%.
They also note that the gross seed harvest in Russia and Ukraine will grow by 8%, while production in the European Union, Argentina, Türkiye and the United States, on the contrary, will decrease.
At the same time, most of the raw material will be processed, OilWorld (Germany) claims. They estimate the figure to be 52.5 million tons, broadly in line with MY 2022/23. Higher processing volumes are expected in Ukraine, Russia and the US, with global sunflower oil output expected to be 22.1 million tons at the end of the current season.
“Oil exports to China, India and many other countries will recover from the decline seen in the 2022/23 season. U.S. sunflower oil export shipments have declined recently and will increase as new crop arrives at mills in the coming months” the report said.
Source: Oleoscope