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EU oilseed production supports prices

May 12, 2016

Oilseed production in EU-28 could see a slight rise in 2016, compared to the previous year, according to a UFOP report published 4 May. This rise would be seen in soyabean and sunflower, however the rapeseed harvest may dip further.

, EU oilseed production supports prices

In total, an estimated 31.6M tonnes of oilseeds were expected to be harvested in 2016, an increase of 200,000 tonnes compared to a year earlier.

The report predicted an increase in soyabean and sunflower production, but a decline in the rapeseed harvest.

Sunflower production is set to increase by 8.1M tonnes (4%) due to a slight expansion in planting area. In addition, soya production could rise to 2.3M tonnes, an increase of 13%.

EU oilseed associations Copa/Cogeca and Coceral said the decline in rapeseed would be around 400,000 tonnes, reducing production to 21.2M tonnes. A slight reduction in rapeseed planting area was the cause of the decline.

The slight increase in soya and sunflower alongside a reduction in rapeseed would support prices, UFOP said.

 


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