USDA survey for December 2021 highlights Canada's rapeseed production decline 2021/22 outlook

Published 2021년 12월 10일

Tridge summary

Canada's rapeseed production is projected to decline by 400,000 tonnes to a 14-year low of 12.6 million tonnes in 2021/22, leading to a reduction in both production and export supplies. This decline is expected to impact global supplies, with large importers potentially turning to Australia to make up the shortfall. The drop in Canadian exports has already affected major destinations like the EU, UAE, China, and Japan, with the United States and China being the largest markets for Canadian rapeseed oil. The global oilseed production forecast has slightly declined due to lower production in China and Canada, while global ending stocks have also decreased, particularly due to lower soybean stocks in China.

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

Original content

Declining rapeseed production in Canada * Balance tables are available on the links. Rapeseed production in Canada in 2021/22 is projected to decline 400,000 tonnes this month, to a 14-year low of 12.6 million. With initial stocks already limited due to strong demand over the past few years, a smaller crop reduces the available supply for both production and export, oilworld.ru reports citing the USDA. The drop in rapeseed exports from Canada in the first 3 months of 2021/22 affected all its main directions. Exports to the EU fell by almost two-thirds, with the UAE declining 50 percent and China and Japan falling 40 percent. Markets in North America experienced a more moderate decline, with Mexico down 12 percent and the United States just 4 percent. With limited global supplies and a sharp drop in Canadian exports, large importers are likely to turn to Australia to offset the displaced imports. Unlike Canada, Australia's rapeseed production is revised to 500,000 tonnes in 2020/21 ...

Source: Oilworld