Expected rapeseed harvest in the EU is the highest since 2014 with imports from Australia and Ukraine in the background

Updated Mar 9, 2023
In the latest report, the European Commission predicts that the production of rapeseed in 2023 in the European Union will amount to 19.6 million tonnes. The forecast is much higher than the production from the previous year, which was estimated in this dry 2022 at 17.1 million tonnes. at the same time, the largest harvest of rapeseed since 2014, when over 20 million tonnes of rapeseed were last harvested in the EU.
The European crop monitoring agency MARS gave its forecasts. According to analysts, such a large increase is the result of increasing the acreage of this crop by European farmers by 500,000 hectares. ha, to almost 5.9 million hectares. The condition of the plantations is also assessed as good, although in western and southern Europe, rainfall could be useful. What about rapeseed imports? According to Strategie Grains, the expected significant increase in production will not lead to a decrease in very high imports (ca. 5.6 million tons), but to a sharp increase in consumption by 2.5 million tons. Analysts also expect an increase in EU rapeseed stocks in the current 2022/23 season as supply from cheap Australian deliveries and heavy imports from Ukraine via Poland and Romania outpaced demand. - Rapeseed prices are under pressure. High imports and price pressure from the global market have recently driven prices down to their lowest level this year. In addition, there are very high ...
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