USDA reduced its estimate for Black Sea oilseed production

13.07.2018

In the July USDA report, the 2017/18 oilseed crop in the Black Sea region was increased by 5 KMT owing to higher soybean production in Turkey. The total crop of all oilseeds is now estimated at 39612 KMT, reports UkrAgroConsult.

Compared with the previous report, the July estimate for oilseed production in the new 2018/19 season was reduced by 3240 KMT, to 40185 KMT. The reasons included cuts in the sunseed crop forecasts for Ukraine (by 2000 KMT, to 13500 KMT) and Russia (by 1000 KMT, to 10500 KMT), as well as rapeseed crop drops in Ukraine (by 100 KMT, to 2200 KMT) and Russia (by 150 KMT, to 1500 KMT).

The forecast for 2018/19 soybean production was increased owing to a 10 KMT rise in Turkey’s soybean crop (95 KMT).

Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine.

In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies.

 

UkrAgroConsult

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