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.
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.