The EU may cut import of oilseeds in 2022/23 MY by 5% compared to preceding season amid expected increase of own crops of sunflower seed and rapeseed. However, import prospects depend on situation in Ukraine, price reporter of oilseeds and vegoils market with Fastmarkets Agricensus Anna Planotova said at Fat-and-Oil Industry-2022 conference in Warsaw.
“Expects of Jacobsen forecast the increase of rapeseed production to 17.9 mln tonnes in the EU in 2022/23 MY. So, the import of rapeseed may decrease by 3% y/y to 7 mln tonnes. At the same time, the supplies of Ukrainian rapeseed to the EU may grow by 2.4% y/y to 2.1 mln tonnes”, – the expert said.
Sunflower seed crop may amount to 10.5 mln tonnes in 2022/23 MY, and imports may decrease by 10.7% to 2.5 mln tonnes. However, the import will depend on the situation in Ukraine.
“The import of sunflower oil to the EU may decline by 13.6% to 1.9 mln tonnes in 2022/23 MY, amid expected growth of own production to 4.4 mln tonnes. Import of sunflower oil from Ukraine can decrease by 7% to 1.6 mln tonnes”, – A. Planotova added.
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