July 16, 2014

Oil World revises up outlook for EU Rapeseed production

Oil World revised projection for EU's rapeseed production as yields increased in Germany, the UK and Romania.

Rapeseed production in the EU, the biggest producing region, is expected to reach 22.7 million tonnes, 300,000 tonnes higher than estimated last month. With increases in planting and yields, output will be 1.5 million tonnes larger than last year

"Reports about this year's crop standing in the field are very positive with sizably higher yields expected from most areas," Oil World said, adding that in Germany, "field reports are still very optimistic and many observers point to the generally favourable weather during the growing period, although some local hail damage was done during the past two weeks."