Australia's 2021-22 rapeseed crop breaks previous record

Published 2022년 3월 4일

Tridge summary

Australia's oilseed production has seen a significant increase, reaching 6.4 million tonnes, which is double the previous record. This surge is attributed to favorable conditions in both eastern and western Australia. Canola, a significant portion of this production, is primarily exported to the European Union for biodiesel. The country also plantss genetically modified canola to meet demand. Despite potential increases in Canadian production and Australian yields returning to normal, prices are expected to remain steady in 2022-23 due to high demand for biodiesel and potential supply disruptions from Ukraine.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Australian Bureau of Economics and Science for Agriculture and Natural Resources estimates that the country produced 6.4 million tonnes of oilseeds, beating last year's record of 4.5 million tonnes. “This is certainly an anomaly and quite unexpected,” Nick Goddard, executive director of the Australian Oilseeds Federation, said in an email. Usually when the harvest in eastern Australia is good, the harvest in the west is bad, or vice versa, but the harvest in both parts of the country over the past two years has been "extremely good" due to good humidity and a cool spring. oilworld.ru citing WesternProducer “As La Niña is on the wane, we can expect 2022-23 to be more typical, although there is still a lot of moisture in the soil, so the crop should start well,” he said. In the sowing regions, during the last seven days ending March 2, there were constant rains. Australian canola production (see table) fluctuated between one and two million tons in the first decade of the 2000s ...
Source: Oilworld

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