The IGC predicts a reduction in global canola acreage in FY2024/25

Experts of the International Grains Council IGC predict that in the 2024/25 season, the area planted with rapeseed in the world will decrease compared to the previous season, especially in Ukraine. A significant amount of rapeseed offers last year led to a decrease in prices and quotations on the futures market. As a result, the global rapeseed area will decrease to 42.4 million hectares in 2024/25, which will still exceed the long-term average. According to the forecast, the area under rapeseed in the EU will decrease by 2.7% to 6 million hectares, although the final figure may be higher, given the high demand for rapeseed products from the fodder, food and industrial industries. In the Black Sea ...