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MY 2024/25 European Union oilseed production is forecast to decline by about one percent over the previous year with good yields. This forecast is based on the assumption of average growing conditions, lower, more average yields, but increased area which cannot make up for the lower yields.
In MY 2023/24, the EU is facing a second consecutive short olive oil production crop.
On April 20, the Government of Serbia (GoS) lifted its prohibition on the export of wheat, corn, flour, and refined sunflower oil. In its place, introduced monthly export quotas. On April 30, the GoS increased export quotas on wheat and wheat flour.