April 23, 2012

Canada's record rapeseed production to boost oil seed production

Canadian farmers' anticipation that it will again seed a record amount of rapeseed in 2012-13 is expected to increase Canada's total oilseed production (rapeseed, soy and sunflowers) to more than 20 million tonnes, almost 7% above 2011-12 production.

Crush in 2012-13 is forecast to increase to 8.2 million tonnes due to large crops, crush capacity and attractive domestic crush margins. This represents an increase of 2.5% above already high year 2011-12 expected levels of eight million tonnes.

Canadian oilseed exports are expected to fall slightly in 2012-13 to 11.4 million tonnes from expected 2011-12 levels of 11.5 million tonnes. This slight decrease is due to exports in rapeseed and soy being limited due to tightening domestic supplies in 2012-13.

Rapeseed and soy crush in 2012-13 is expected to remain high due to the large crops and strong prices. Total meal production in 2012-13 is forecast at five million tonnes, slightly above year 2011-12 expected levels of 4.8 million tonnes.

Similarly, total oils production in 2011-12 is expected to continue at the high levels being experience in 2011-12. Total oil production in 2012-13 is forecast at 3.4 million tonnes, slightly above year 2011-12 expected levels of 3.3 million tonnes.

Total meal and total oils exports in 2012-13 are forecast to rise to 3.4 million tonnes and 2.8 million tonnes, slightly above year 2011-12 total meal and oil expected exports levels.