Global rapeseed production will not reach the level of the previous year

Due to the reduction of production areas and expected lower yields, the International Grains Council (IGC) expects global rapeseed production in 2024/25 MY to fall short of the previous year’s level. According to the latest IGC forecasts, the production volume will amount to 87.2 mln tons, which is 2 percent less than in the previous season. In other words, IGC revised its forecast made last month downward by 900 thousand tons. The main reason for the decline is the reduced harvest in Australia. After a sharp decline in the previous season, production is expected to continue to decline in the current agricultural year. Currently, production in Australia is projected at 5.4 million tons, which is about 700 thousand tons less than forecasted in May and 4.5% lower than last year. In Ukraine, the harvest will be 4.9 million tons, which is about 500 thousand tons less than previously expected. The weather in the country has been quite variable, with favorable conditions in the winter ...