European Union: Oilseeds and Products Annual

MY 2023/24 European Union oilseed production is forecast to increase by over four percent over the previous drought affected year. This forecast is based on the assumption of average growing conditions, higher average yields, and increased area. Feed use of oilseed meals is forecast down, in line with declining livestock and dairy sectors. Biofuels and food use of vegetable oils are forecast to remain stable. The Russian invasion of Ukraine still impacts the EU and world oilseeds market.