September 18, 2013

World supplies of rapeseed may climb to a record this season due to high production in Canada and the EU.

Rapeseed supplies may reach an all-time high of 70 million tonnes, up 2.5% from a year earlier, according to Hamburg-based researcher Oil World said. The figure includes a production of 65 million tonnes and five million tonnes for inventories at the start of the season. Canada, the world's biggest exporter and grower of the rapeseed variety, will harvest a record 15 million tonnes, while output in the EU, the top producer, will rise 6.4% from a year earlier to 20.8 million tonnes.
 

Canadian harvesting is on the rise, with very high yields reportedly achieved due to ideal weather conditions in the final phase of this year's crop development which resulted in above average yields in early harvest results.
 

Rising production in the EU mean the bloc's imports may drop 14% from a year earlier to 2.9 million tonnes in the 2013-14 season which started on July 1, Oil World said. According to the report, Ukraine will be the main supplier to the EU as its total rapeseed exports may reach two million tonnes, the second-highest on record, while shipments from Canada and Australia decline from the prior season.