Browse Data and Analysis

Sunflowerseed production in marketing year (MY) 2024/25 is forecast to drop to its lowest level in almost a decade due to extremely dry weather conditions in the northeast part of the country, where more than half of the production is concentrated.

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.

As of June 1, 2024, Turkiye’s Ministry of Trade has relaxed the ban on the export of bulk and barreled olive oil, allowing up to 50,000 tons of bulk and barreled olive oil to be exported until November 1, 2024. This decision, in response to negative sentiment from domestic industry, is expected to have a positive, though limited, impact on global olive oil prices.

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.

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.

Dashboard that demonstrates the scope of Black Sea grain and oilseed trade. Millions of tons of grain are shipped through these international waters each year, making the Black Sea region a major supplier of agricultural commodities worldwide.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Turkey’s production of major oilseeds – sunflowerseeds, cottonseeds, and soybeans – in marketing year (MY) 2023/24 is projected to decrease year-over-year because of pre-earthquake market dynamics.

Turkey recently announced that the tariff on imported sunflowerseed would increase from zero to 5 percent from October 27 through the end of 2022. This revision coincides with Turkey’s sunflowerseed harvest.

With favorable weather conditions and an expansion in the area harvested, Turkey’s sunflowerseed production is forecast to hit a record of 1.9 million metric tons (MMT) in marketing year (MY) 2022/23. Production of sunflower meal and oil are likewise projected at record highs.