EU rapeseed harvest to decline in 2024 – forecast

Published Mar 4, 2024

Tridge summary

The European Union is expected to see a decrease in its gross harvest of rapeseed this year, with estimates suggesting a drop of 1.6 million tonnes from last year to around 18.3 million tonnes, according to Strategie Grains agency. This decline is anticipated to be most significant in Romania and Poland, leading to an increase in oilseed imports from Ukraine and Australia. Despite Red Sea shipping issues, Canadian canola purchases are also predicted to rise. Meanwhile, the sunseed crop harvest for 2024 is forecasted to increase by 9% from 2023, remaining at 10.7 million tonnes.

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

Original content

This year, the gross harvest of rapeseed in the European Union may reach about 18.3 mln tonnes, according to analysts of the Strategie Grains agency, who lowered the estimate of oilseed production by 0.1 mln tonnes compared to the previous month. Thus, the current result may be 1.6 mln tons lower than last year’s results. According to experts, the harvest is expected to decline in most countries of the bloc, but most noticeably in Romania and Poland. Subsequently, this will lead to an increase in imports of oilseeds of Ukrainian and Australian origin to the EU. However, according to analysts, due to the problems with shipping in the Red Sea, purchases of Canadian canola will also be intensified. As for the sunseed, ...

Source: UkrAgroConsult