Browse Data and Analysis

Ukraine introduced procedures for the approval of minimum export prices for selected bulk commodities, including grains, oilseeds, vegetable oils and meals, walnuts, and honey.

In early August, Turkiye announced that it will open a lower-duty quota for 1.0 million metric tons of sunflower seed or crude sunflower oil equivalent, starting from January-April of next year.

MY 2024/25 European Union oilseed production is forecast to decline by about one percent over the previous year with good yields. This forecast is based on the assumption of average growing conditions, lower, more average yields, but increased area which cannot make up for the lower yields.

Assuming the return of more favorable growing conditions and yields that are in line with historical averages, Turkey is expected to produce more sunflowerseed, cottonseed, and soybeans in MY 2024/25 compared to the previous year, which was marked by dry weather conditions in parts of the country.

In MY 2023/24, the EU is facing a second consecutive short olive oil production crop.

MY 2023/24 sunflowerseed production is forecast at 1.6 million metric tons (MMT), which is down nearly 20 percent year-over-year because of drought-related losses in Thrace, Turkey’s leading sunflower producing region.

Turkiye announced a three-month export ban on olive oil in bulk and in barrels due to the shortage of olive oil production in Mediterranean countries and subsequent negative effects on domestic prices.

Bulgarian production of oilseed crops in marketing year (MY)2022/23 was at the same level as in MY2021/22 at 2.4 million metric tons (MMT), from 8 percent higher area harvested due to lower yields impacted by the summer heat and drought.

On April 20, the Government of Serbia (GoS) lifted its prohibition on the export of wheat, corn, flour, and refined sunflower oil. In its place, introduced monthly export quotas. On April 30, the GoS increased export quotas on wheat and wheat flour.