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.

During the past few years, the landscape for U.S. renewable diesel production has drastically changed, akin to the growth of ethanol and biodiesel during the past two decades. Driven by federal and state policies aimed at reducing emissions, this dramatic U.S. renewable diesel production and capacity growth is causing significant, market-altering shifts both domestically and to foreign feedstock trade.

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.

Post revises down MY 2023/24 soybean production to 158.5 MMT due to poor weather outlooks resulting from El Niño, particularly in the Centre West states, which may affect final yields currently projected at 3.507 kg/ha.

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

Post increased its forecast for soybean planted area to 45.4 million hectares for 2022/23, up previously from 45.2 million hectares.

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.

FAS/Mexico expects slower growth in the vegetable oil and oil meal sectors in marketing year (MY) 2023/24 compared to recent years, given potential declines in consumer purchasing power, a forecast slowdown in Mexico’s economy, and persistent inflation.

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.