Winter rapeseed sowing for 2025 harvest postponed due to drought.
The sunflower harvest has started in Serbia. Even sunflower yields are lower than expected, though sunflowers can withstand high temperatures. in July SFS yield was forecasted at 3 t/ha, it was 2.6 t/ha at the beginning of the harvest in August, 2.9 t/ha in 2023.
In addition to lower yields, SFS quality is poor, with small grains and many empty kernels.
Due to the drought, SFS yield and quality vary from field to field, regardless of the sowing date. Even SFS sown later matured too early. The 2024 SFS harvest is expected to be at least 10% lower y/y, with more pessimistic forecasts of a 25-30% decline.
Further development of the oilseed and vegoil sector in the Black Sea and Danube region will be discussed at the 10th International Conference BLACK SEA OIL TRADE on October 15th in Bucharest.
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This was reported by Maritime Reporter.
Earlier, Ukrainian producers stated that the total export of grains and oilseeds in 2024/25 marketing year is expected to reach about 60 mln tonnes. This is almost the same as in 2023/24.
“Kyiv is less dependent on Constanta thanks to a new shipping corridor that Ukraine organized in August 2023, starting from Odesa and continuing along the western Black Sea coast, near Romania and Bulgaria, after Russia withdrew from the UN-brokered agreement on safe grain exports,” the experts say.
Ukraine seizes wheat export gap left by Russia
The selling pressure prevailing in Russia continues to weigh on the market. Russia’s exports only reached 3.9 million mt as of 20 August, which is 33% down on last year. Export prices have also hit a historical low of USD 220/mt FOB Black Sea for Russian wheat, a far cry from last year’s USD 252/mt. Large buyers such as Egypt presently prefer suppliers from other countries. SovEcon reckons that Russia will exports 48.8 million mt in 2024/2025 as opposed to the 52.4 million mt shipped last year.
He said the two countries would collaborate on the process, adding that Malaysia is lucky to have India’s “independent and professional views” compared to the negative reactions from the European Union (EU) and the United States on palm oil production.
“Some companies (in India) have conducted their own research to define the (country’s) position (on palm oil production) (and) it will (continue to) increase.
“We also agreed to support the Indian experiment on palm oil production in a collaborative manner,” Anwar said in an exclusive interview with India Today Global during his recent three-day visit to the country.
He said the collaboration also would be extended to other emerging sectors such as digitalisation and technology.
The EU has imposed strict regulations on Malaysian palm oil, citing environmental concerns over alleged deforestation and sustainability while the US has focused on labour practices and alleged human rights issues.
Both regions’ stances pose significant challenges to Malaysia’s palm oil industry.
October 30, 2024, Kyiv at InterContinental Hotel.
For more than 20 years, this event has been gathering the leaders of the fat-and-oil industry of Ukraine and serving as a discussion platform for the largest producers, exporters and importers of oilseeds and processed products.
Ukraine remains one of the key suppliers of oil and fat products to foreign markets despite the significant challenges faced by the Ukrainian agro-industrial complex in the context of the war. In particular, the share of Ukrainian sunflower oil on the global market in 2023/24 MY is maintained at 40%, sunflower meal - increased from 43% to 47%, rapeseed - also increased to 22% against 17% in the previous MY.
During the conference, we offer you to get exclusive information on the prospects of the oilseed market in the season-2024/25, as well as the most pressing issues of the global oilseeds and processed products trade.
Key topics of the conference
- Prospects of the sunflower market in the Black Sea region in the season-2024/25
- Competition and key markets for sunflower oil and meal
- EU as a key market and its impact on the Ukrainian oilseeds sector
- Challenges and risks for the oil and fat industry of Ukraine in the context of European integration
- The growing market of soybeans and rapeseed in Ukraine: potential of the new season and long-term expectations
- Market of value-added processed products: state of the art in the segments of vegetable oil and organic oil
- Development of the oilseed sector in times of war: investments and new projects in Ukraine
- Logistics of the oil and fat market: domestic, port and international
- Global geopolitical and climate changes
- Green course in agriculture: status and prospects
- Impact of the energy crisis on the oilseed sector of Ukraine
Early start to harvest in Ukraine and Romania
Due to the unusually hot temperatures and low rainfall, Ukrainian growers have started harvesting sunflower seeds much earlier than usual this year. Experts are reporting good demand for the new crop, but this cannot yet be met due to the low availability of goods. However, the unfavourable weather conditions are diminishing the crop prospects; the USDA, for example, has reduced its forecast by 1 million mt to 13.5 million mt. The oil content is also record-breakingly low in some places, at just 33-36%.
The first threshings in the south and east of the country show a low yield and oil content of sunflower, so there were fears that crop losses would reach 25-30% of the forecast, but processors have not yet reacted to this by raising prices.
New harvest sunflowers are offered at UAH 19,000-20,000/ton with delivery to the factory, as the prices of sunflower oil and meal are falling under the pressure of a significant supply of cheap soybean meal and soybean and palm oil on the world market.
During the week, export prices for sunflower meal fell by $10-15/t to $185-190/t under the pressure of lower prices for fodder wheat and corn. At the same time, demand prices for sunflower oil with delivery to buyers in the EU fell by €10-20/t to €880-900/t against the background of lower prices for rapeseed and rapeseed oil in Europe.
On the Chicago Stock Exchange, December soybean oil futures fell 3.8% during the week to $860/t (-15% for the month) amid an increase in the US soybean harvest forecast, which complicated the global balance sheet for 2024/25 MR.
October palm oil futures on Malaysia's Bursa exchange have been trading at 3,700 ringgit/t, or $835/t, for two weeks amid slowing exports.
CAIRO, Aug 19 (Reuters) -Egypt remains confident of securing its target of around 3.8 million metric tonnes of imported wheat by the end of 2024, through a combination of tenders, direct purchases and government-to-government agreements, a minister said on Monday.
"We still have (a) green light to engage in direct talks to get the best price," Supply Minister Sherif Farouk told reporters on Monday, adding that Egypt should be afforded certain "advantages" in its wheat imports, whether through favorable payment terms or preferential pricing, because of the significance of its wheat buying.
Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), launched a tender on Aug. 6 which traders said was the biggest ever by the world's largest wheat importer.