More rapeseed from Russia and the EU-27

November 16, 2023 | 11:06:00 | ID: 38070 | Department: Agriculture | plant Berlin (agrar-PR) - In its latest report, the US Department of Agriculture (USDA) has slightly increased the forecast for global rapeseed production and consumption. The year-end stocks were also revised upwards. The USDA estimates global rapeseed volume for the 2023/24 marketing year at around 85.6 million t, which is 0.5 million t higher than forecast in October. Compared to the record result of the previous year, this still corresponds to an expected decline of 3.6%. The decisive factor for the upward correction is an adjustment to the Russian harvest, which was corrected by 0.5 million t to 4 million t. Nevertheless, the previous year's result is likely to be missed by 0.3 million t. According to USDA estimates, the EU-27 harvest is seen at 20.1 million t, around 0.1 million t more than last year. The US Department of Agriculture also adjusted the forecast for global rapeseed consumption in 2023/24 ...