Global oilseed production in the 2023/24 season is expected to increase 7%, according to the latest Global Oilseed Report, compiled and released by the US Department of Agriculture (USDA). Global production was expected to reach 672 million tons. According to the report, the expectation of a bigger crop came on the back of an increase in soya bean production in South America, in addition to an increase in sunflower seed production in the EU, Ukraine and Russia.
The report added that canola production is likely to remain unchanged as growth in production in the EU, Canada and China were offset by a decline in production in Australia.
In terms of consumption, the USDA predicted that oilseed demand was expected to increase 4% in the coming season, led by the soya bean crush recovery in Argentina, as well as rising demand from China. “Soya bean crush and consumption are projected to account for most of the growth in global oilseed use,” the report said. Canola consumption was expected to increase marginally at 1%, while sunflower seed processing was expected to remain unchanged.
With regard to trade, it was predicted that global trade would increase by 1%. According to the USDA, the marginal increase was due to higher soya bean import demand offsetting lower canola and sunflower seed imports.
“Slowing economic growth in China and the EU coupled with growing domestic oilseed production, as well as continuing expansion of soya bean planted area in South America, is likely to pressure global soya bean prices in the coming year.
This story is from the Farmer's Weekly 2 June 2023 edition of Farmer's Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Farmer's Weekly 2 June 2023 edition of Farmer's Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
New farmers' seedling pitfalls
Inexperienced farmers may be tempted to grow seedlings from seed themselves, but they have much to gain by trusting a seedling grower at a nursery to perform this task for them instead
South African avocado production: a success story
Avocado production in South Africa has expanded markedly since the industry's humble beginnings over 80 years ago. From a small grove planted in 1938 in what was then Nelspruit, the industry has blossomed to seven million trees planted on 20 000ha. Dr Guy Witney, project manager at Great Brak Avos, spoke to Annelie Coleman about the country's avocado production.
Unlocking value through livestock exports
Exporting livestock might sound like a daunting business that's better left for big companies, but Gerrie Ferreira, who farms near Oudtshoorn in the Western Cape, has been doing it successfully for almost 30 years, sometimes in partnership with other breeders. He spoke to Glenneis Kriel about the huge potential this market holds, and offers some advice for farmers who are contemplating going this route.
An agribusiness's dedication to community upliftment
For agribusiness NWK, located in Lichtenburg, North West, corporate social investment is an important part of creating a positive influence alongside financial returns. Johan Bezuidenhout, NWK’s group manager of corporate marketing and communication, spoke to Annelie Coleman about why the company chooses to invest millions of rands in the area it operates in every year.
Empowering dreams, transforming lives
Since its launch in 2013, the Agri's Got Talent competition has revolutionised the lives of many farmworkers by unlocking their hidden talents and fostering a culture of empowerment. Glenneis Kriel spoke to various finalists about how the contest has changed their lives.
Foreign investment: agriculture maintains its appeal
South Africa remains a popular destination for foreign investors, despite an often negative outlook from its citizens. It is a gateway to Africa, and with its counterseasonal production to the Northern Hemisphere and favourable weather, local agriculture is especially well placed to attract foreign interest, bringing with it hope for rural communities
The real value and message of COP29 for SA agriculture
While the 2024 Conference of the Parties may have disappointed those who hoped for real progress, it's more important for South African agriculture to highlight its role in carbon mitigation
Improving efficiencies in feed and grain milling
Bühler, a Swiss-based company that provides solutions and equipment for various industries, including food and animal feed processing, has pledged that by 2025, it will deliver scalable solutions that will reduce energy, waste and water by 50% in the value chains of its customers.
Tips for better olive production
At an SA Olive Association field day in November, industry experts shared ways to improve olive production efficiencies, from soil preparation to harvesting.
More effort needed to protect vulnerable cheetah
On International Cheetah Day, commemorated every year on 4 December, emphasis was placed on the vulnerability of the species.