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WORLD: Global oilseed production in the 2023/24 marketing year is forecast to increase by 7% mainly due to soyabean output in South America and sunflowerseed production in the EU, Russia and Ukraine, according to a United States Department of Agriculture World Markets and Trade report on 12 May.

Meanwhile, global oilseed consumption was expected to rise by 4% to a new record of 672M tonnes in the current marketing year.

World rapeseed production was expected to remain almost unchanged as gains in the EU, Canada and China were offset by declines in Australia. Soyabean output was forecast to rise by 11% to nearly 411M tonnes. Brazilian soya exports were projected at a record 96.5M tonnes.