Oilseed production in Russia heading towards a record high

UkrAgroConsult

Article author:

Svetlana Kupreeva

Oilseed Market Analyst

This year Russia was going to embark on a course towards the optimization of oilseed plantings. In the first statements by Russia’s Ag Ministry, which were made in spring 2021, a 2.3% reduction was forecast in sunflower acreage compared to last year, with soybean and rape plantings predicted to expand by 4.5% and 10%, respectively.

The sunflower acreage decrease was put in doubt by almost all analysts. The reasons included margin of sunseed and the experience of past years, when the final areas turned out to be larger than initially forecast. Ultimately, the plantings of all the crops exceeded the first estimates, with the greatest gain expectedly seen in sunflower, UkrAgroConsult reports.

According to the Russian State Statistics Service, the final total area planted to oilseeds for the 2021 crop reached a record 16.5 Ml ha, exceeding last year’s by 14%.

Despite a cut in yield forecasts (current weather risks, specifically heat and dryness, especially in the Central, Southern and Volga regions, squalls, thundershowers, strong wind, crop lodging, heterogeneous crop condition even within one field), this year’s situation looks much more optimistic than that seen in 2020. Combined with record large planted areas, the above firmly suggests that oilseed output will hit a new high.

Learn more about development prospects of the oilseed sector in Ukraine and Black Sea region at the 9th International Conference ‘BLACK SEA OIL TRADE’, to be held on September 9 by UkrAgroConsult. Join the leading experts and market operators to discuss the most relevant issues. Let’s open a new oilseed season together!

UkrAgroConsult

Tags: Russia, Oilseed production, Oilseed