The USDA has again lowered its forecast for sunflower production in 2022/23 MY
In a June report, USDA experts lowered their forecast for world oil production in 2022/23 MY by 0.3 million tons to 646.8 million tons, including sunflower - by 1.5 million tons to 49.22 million tons, which will be 16, At the same time, the production of rapeseed increased by 475 thousand tons (due to increased yields in Australia), and soybeans - by 680 thousand tons.
The estimate of the world's final oil reserves in 2022/23 MY increased by 0.9 million tons to 119.95 million tons (104.89 million tons in 2021/22 MY) due to increased initial soybean stocks in Brazil and Argentina due to higher forecasts of its production in 2021/22 MR for 1 and 1.4 million tons, respectively.
Compared to the May report, the forecast for world soybean production in 2022/23 MY increased from 394.7 to 395.4 million tons (351.9 million tons in 2021/22 MY), in particular for Brazil - to 149 million tons tons in 2021/22 MY), Argentina - up to 51 (43.4) million tons, the United States - up to 126.3 (120.7) million tons. In addition, the estimate of world soybean exports in 2022/23 MY increased from 170 to 170.3 million tons (155.9 million tons in 2021/22 MY), and the forecast of final soybean reserves - from 99.6 to 100.4 million tons (86.1 million tons in 2021/22 MY), in particular for Brazil - from 30.5 to 30.7 (21.8) million tons, Argentina - from 22.1 to 23.5 (20.6) million tons, Ukraine - from 800 to 950 (951) thousand tons, while for The United States reduced the estimate of reserves from 8.4 to 7.6 (5.6) million tons.
The forecast of world rapeseed production in 2022/23 MY increased by 0.475 thousand tons to 80.795 million tons (71.382 9 million tons in 2021/22 MY).
The forecast of world sunflower production in 2022/23 MY was reduced by 1.5 million tons to 49.22 million tons (57.38 million tons in 2021/22 MY).
It is expected that due to the reduction of the sunflower harvest in Ukraine, the production of sunflower oil will be reduced by another 200 thousand tons to 3.2 million tons, and sunflower meal - by 200 thousand tons to 2.7 million tons compared to last year's 4.1 and 3.2 million tons, respectively.
