Crop look in Australia and India sets to boost global vegetable oil supplies

Canola Seed & Rapeseed

Australia

India

Published Jan 5, 2023

Tridge summary

Australia’s forecasted record canola production and India’s increase in planted area to the crop look set to boost global vegetable oil supplies. At a time when global production of vegetable oils has grown more slowly than consumption, bigger canola harvests in Australia and India could provide relief for edible oil users worldwide.

Original content

While vegetable oil prices have retreated from the record highs seen earlier last year, they are still well above historical averages. Rapeseed is known as canola in its genetically modified form. Australia’s current canola harvest is forecast to exceed last year’s record crop by 4%, helped by an 11% acreage expansion, according to data from government agency ABARES. The crop, which is currently being harvested, benefited from favorable growing conditions. Gro’s vegetative health index, weighted for acres in Australia planted to canola, was close to the highest level in more than two decades throughout the season, as shown in this Gro display. In India, where farmers are finishing planting the rapeseed crop now, a projected 5% increase in planted area could also lift production above last year’s levels. Growing conditions in India also are looking favorable, as seen in this Gro display, ahead of the harvest which begins in March. The two countries are among the world’s top ...

Source: Gro-intelligence