May 5, 2012
Australia aims for record rapeseed yield
The Australian cropping belt will shimmer with gold this winter as most growers who are now sowing winter grains have chosen rapeseed over wheat.
A senior commodities analyst with Profarmer Grain, Malcolm Bartholomaeus, said tightness in global oilseed stocks and a sharp increase in demand from China had fuelled a rise in rapeseed prices.
"We're going into the season with a pretty poor price outlook on the major cereal crops, wheat and barley," he said. "But the stand-out is that canola prices are extremely strong and are continuing to strengthen as the planting season gets under way.
"Anywhere that gets a good start to the season across the cropping belt will probably favour canola and then work out what to do after that."
The Australian Bureau of Agricultural and Resource Economics and Sciences in March forecast a 5% rise in the rapeseed crop this year. In April, the NSW Department of Primary Industries said it expected record rapeseed plantings, at 39% more than last year.
A Victorian farmer and agroÂnomist with farm advisory company Western Ag, Philip Hawker, was planting his wheat and rapeseed at the weekend near Beaufort, 45 kiloÂmetres west of Ballarat.
"The outlook is promising for canola and a bit mixed for wheat but there's still a long way between now and when the crops will be harvested and sold," he said.
He said rain in the previous week had been well-timed for planting, though some other areas of the state needed more rain.
Cargill Australia's director of corporate affairs, Peter McBride, said seasonal conditions pointed to a healthy grains crop this winter, which could strain rail networks.
