Fear of more expensive rapeseed oil and wheat flour due to poor harvest in Canada

Published Sep 14, 2021

Tridge summary

Canada's Bureau of Statistics has revised down the harvest expectations for rapeseed and wheat due to poor yields. The rapeseed harvest is projected to be 34% lower than expected, and the wheat harvest, 41%. This will likely reduce export capabilities, potentially leading to an increase in the prices of rapeseed oil and wheat flour. The expected rapeseed harvest is now 2 million tons less than August's projections, and the wheat harvest, 800,000 tons less, marking the smallest volume since 2007.

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

Original content

In Canada, the harvest of rapeseed and wheat is even lower than expected. Canada's Bureau of Statistics lowered its expectations on Tuesday. Based on new figures, the rapeseed harvest is 34 percent lower, that of wheat is 41 percent lower. As a result, less export is possible, which may cause the prices of rapeseed oil and wheat flour to rise. Canada is likely to harvest 12.8 million tons of rapeseed this year, 2 million tons less than expected at the end of August. The expected wheat harvest was revised down by 800,000 tons to 15.3 million tons, the smallest volume since 2007. Last week it was announced that Italians will soon have to deal with more ...

Source: Nu