April 16, 2012

Viterra expects bigger Canada rapeseed plantings

Smashing last year's record high of 18.5 million acres, Western Canada rapeseed plantings look to reach 20-21 million acres this spring, Viterra Inc. said on Thursday (Apr 12).

Farmers are set to expand rapeseed's area due to the oilseed's high price and a return to dry spring conditions after two years of flooding that took millions of acres out of production, said Doug Wonnacott, chief operating officer of agri-products for Viterra.

"Based on what we've seen in seed bookings, it's going to be an exceptional year," Wonnacott said in an interview with Reuters. "About 20-21 million acres, that's a realistic range."

On March 8, Viterra forecast rapeseed acres of 18.5-19.5 million acres in Western Canada.

Rapeseed offers high returns to farmers, with strong demand from exporters and crushers, and it is also lucrative for grain companies like Viterra because of its heavy use of fertiliser.