Thus, world soybean production in 2022/23 is expected to be 371.2 million tons, broadly in line with the record high of 2020/21, as the crop is recovering in the Southern Hemisphere.
According to preliminary forecasts, the gross harvest in Brazil and Paraguay will increase markedly compared to the previous season, mainly due to higher yields amid favorable weather conditions. Argentina, for its part, will have its lowest harvest in 20 years after one of the worst droughts.
At the same time, oilseed yields could increase in China and also in India due to an increase in both harvested area and yields.
As for rapeseed, production in 2022/23 MY is expected to grow at an annualized rate of 89.2 million tons, a new all-time high. The increase will generally be attributed to an increase in production in Canada due to a marked recovery in yields from the previous season. Australia is also expected to continue its third consecutive year of record increases. India, China, and the EU are also expected to increase their gross output.
Nevertheless, the global production of sunflower seeds this season may go down to 53.3 million tons. The expected decline reflects a significant reduction in yields in Ukraine. Oilseeds harvest in the European Union will also decrease due to adverse weather conditions during the growing season. On the other hand, noted in FAO, “unprecedented harvest” of sunflower seeds is predicted in Russia.
