Brazil lowers soybean and corn crop forecast
If projections are realized, the volume would decrease by 13.5 million tons compared to 2022/23.
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If projections are realized, the volume would decrease by 13.5 million tons compared to 2022/23.
The Chinese government continues to implement plans to reduce and replace soybean meal in animal feeds.
Compared to the November report, estimates for world corn production and trade improved slightly, and Brazilian soybean projections were cut.
Spain's animal feed production reached 37.5 million tons and remains the European leader in compound feed production in 2022.
Following the expiration of restrictive measures on Ukrainian exports to the EU of cereals and other food products, Ukraine agrees to introduce measures to prevent a new spike in imports to the EU.
This corridor, which allows the export of cereals and fertilizers from Russia and the Ukraine, is of the utmost importance to maintain world food security.
Exports in May reached 1.3 million metric tons of grains and other foodstuffs. That is less than half of the previous month.
Exports reached €18.6 billion in value terms, which is 10% higher than February 2022.
The strongest drop in production occurred in the pig sector.
As expected, the agency made further cuts in estimated production volumes for Argentina's crops, while for the other countries, there were no significant changes. The first forecasts for the 2023/24 season will be released in the May 12 report.
Poland, Hungary, and Slovakia have temporarily banned imports of grain and other agricultural products from Ukraine.
The decrease was possible due to various sector initiatives to reduce the use of antibiotics in agricultural animals.
Little change in overall feed production is expected for 2023/24 but corn utilization in feed rations should rise.
Manufacturers saw an overall decrease in the production of compound feed in 2022.
The Black Sea Grain Initiative has been extended but the UN did not specify the length of the renewal.
Once again, the production estimate for Argentina's crops was reduced as a result of the adverse weather conditions that have accompanied the development of the crops in this new season.