The situation for rapeseed production in Canada is set to be the lowest in 13 years. The severe drought and low oil yields indicate a 2.7% decline, cutting supply shorter than initially thought. Importing countries such as Mexico and Japan are forced to pay more or to seek other alternatives. Rapeseed oil is noted to be a price support element for the vegetable oil complex(canola, sunflower, soybean, palm oils) this season. RSO premium remains strong and its bar is set well above other oils in the 2021/22 season, priced at USD 1,680/MT FOB for the November delivery.
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