MarketsFarm — The U.S. Department of Agriculture’s (USDA) attachés in Europe have projected oilseed production in the 27-member European Union to increase just slightly in 2022-23.
The 18 attachés involved in the report expect about 31.07 million tonnes in total, for a 0.4 per cent bump in total oilseed output from 2021-22.
The oilseeds included in the report consisted of those grown and imported. Those imported are palm kernel, peanuts, and copra. Those grown in the EU are:
| Crop | Production for 2022-23. . | Change from |
| (millions of tonnes) | 2021-22 (pct) | |
| Rapeseed | 17.60 | +2.3 |
| Sunflower | 9.98 | -4.4 |
| Soybeans | 3.00 | +7.1 |
| Olive oil | 2.02 | -9.8 |
| Cottonseed. . | 0.49 | -3.5 |
The nearly two-month-old war in Ukraine has impeded its sunflower production — and that’s one reason for the EU planting more oilseeds in 2022-23. The attachés projected a 4.6 per cent increase from 2021-22 at 28.83 million acres.
However, impediments such as the high costs of fuel, fertilizers and pesticides are expected to temper any notable increases in planted area spurred on by higher commodity prices.
Also, the attachés are expecting smaller yields. Due to greater overall EU consumption, total oilseed ending stocks are to drop almost 22.9 per cent at 1.57 million tonnes. In turn, all of this will intensify an already-tight global supply situation with oilseeds.
The total oilseed crush is projected to rise a little bit as well in 2022-23, by 1.3 per cent at nearly 47.04 million tonnes. That is to include meal production of 30.47 million tonnes and imports of 19.11 million. Meal ending stocks for 2022-23 are expected to increase to 1.03 million from the 816,000 tonnes in 2021-22.
As for edible oils, production was projected to come to 18.04 million tonnes in 2022-23, up a pinch from the 18.03 the previous year. Oil ending stocks too are to remain steady at 1.85 million tonnes.
