EU oilseed production may increase slightly in 2022/23

Washington, April 25: the EU oilseed annual report released by the US agricultural counsellor shows that the EU oilseed planting area will increase by nearly 5% in 2022 / 23, mainly due to the increase of rapeseed and soybean planting area and the increase of sunflower seed planting area to some extent. The main reason for the increase of oilseed area is the attractive price. In addition, the conflict between Russia and Ukraine has led to uncertainty in the supply of the Black Sea, which will also boost the sown area of sunflower seeds in the EU.

Despite the increase in sown area, oilseed yield is expected to increase by less than 0.5% due to the decline of average unit yield. This is especially true for sunflower seeds, whose unit yield can not reach the high level of the previous year. High prices and supply shortages of means of production such as energy, chemical fertilizers and pesticides will also have an adverse impact on the unit yield of the next year. So far, the planting and growth conditions are generally good.

With a slight increase in crushing, EU oil meal production is expected to increase by more than 1% in 2022 / 23. Based on the assumption of the decline of livestock stock, feed consumption will also show a downward trend. The amount of oil meal feed will decrease by 2.5% over the previous year. Due to the tight supply of sunflower seeds, the feed consumption of sunflower seed meal will be reduced.

EU vegetable oil production in 2022 / 23 is expected to remain stable compared with the previous year. The increase in the production of rapeseed oil, soybean oil and sunflower oil will be offset by the decrease in the production of olive oil. Vegetable oil supply is expected to be tight, and as the number of refugees increases, the consumption of vegetable oil will increase, which will lead to the decline of biofuel consumption.

Source: Master Boyi

Post time: Apr-29-2022