Record soyabean and rapeseed production forecast for Russia
August 07, 2019
Russia is expected to set new records in soyabean and rapeseed production for the 2019/20 marketing year, according to an 11 July Global Agricultural Information Network report from the US Department of Agriculture (USDA).
Soyabean production was forecast at 4.3M tonnes, aided by an increase in planted area and higher yields, factors that would also lead to a record 2.27M tonnes of projected rapeseed output, World Grain reported on 12 July.
Sunflowerseed production was pegged at 12.3M tonnes, slightly below a record level in 2018/19.
The USDA forecast that total Russian oilseed production would reach 18.8M tonnes in this marketing year, roughly equal to 2018/19’s level.
Exports of oilseeds in 2019/20 would reach an all-time high of 1.7M tonnes, 7.3% higher than in 2018/19.
“The major drivers of this growth will be exports of rapeseed and soyabean to China and an active supply of rapeseed to Belarus that started in 2018/19 after the opening of a new plant for processing soyabeans and rapeseed in this country by the company, Sodruzhestvo,” the USDA report said.
As a result of surplus volumes of vegetable oils, the USDA expected a new record in vegetable oil exports, up to a total of 4.2M tonnes, or 11.1% above the 2018/19 total, World Grain wrote.