IGC experts expect an increase in sunseed harvest in the EU and Ukraine

According to the latest IGC data, the global production of sunflower seeds in 2023/24 is expected to reach 56.1 mln tons. Thus, the Council revised its previous month’s forecast downward by 300,000 tons. The previous year’s result is likely to be exceeded by only 2.6%.

The decisive factor for the downward correction is the expected decline in the latest EU-27 harvest estimate. The Union, which ranks third in the world among major suppliers, is expected to harvest about 10.3 million tons of sunflower seeds, which is 100,000 tons less than forecasted in August. Nevertheless, the volume is expected to exceed the same indicator of the previous year by 12.4%.

In Ukraine, there was a significant expansion of the planted areas for 2023. Due to favorable growing conditions, yields are expected to be higher than in 2022. The Council predicts a harvest of 15.3 million tons, which is 8.9% more than in the previous year.

In Russia, where harvesting started at the end of September, sunflower seed production is expected to reach the level of last year at 16.4 million tons in 2023. Thus, the forecast from the previous month remains unchanged.

Tags: Ukraine, EU, sunseed, crop forecast