Europe faces canola shortage

Published 2021년 6월 25일

Tridge summary

The European Union is projected to double its canola imports by 2030 due to the implementation of the Farm to Fork strategy, which is expected to decrease EU rapeseed production. This strategy includes converting land to organic production, reducing fertilizer applications by 20%, and cutting pesticide use by 50%. As a result, the EU is expected to source more canola from countries like Canada, the Black Sea region, and Australia. In 2020, the EU imported 1.7 million tonnes of canola from Canada, making it Canada's second-largest customer. The EU is also expected to increase its biodiesel production and consumption in 2021, which relies heavily on rapeseed/canola oil as feedstock.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Union will double its canola imports by 2030 if the region follows through on its controversial Farm to Fork strategy, says an industry group. Coceral, a European association of grains, oilseeds and pulses traders, believes that strategy will result in reduced EU rapeseed production and increased canola imports. The Farm to Fork strategy of converting more land to organic production, reducing fertilizer applications by 20 percent and dropping pesticide use by 50 percent is going to wreak havoc on the crop, said the organization. Coceral’s impact assessment concludes that EU rapeseed production will fall to between 7.6 and 13.7 million tonnes by 2030, down from 16.25 million tonnes in 2020. Rapeseed/canola imports will soar to “at least 10 million tonnes” per year, or about double today’s levels. “Good luck finding that,” said MarketsFarm analyst Bruce Burnett. That is the equivalent of Canada’s total forecast export program for 2021-22. With all the new crush plants ...

Source: The Western Producer