Rape meal consumption in the EU beat last year's record

Published Apr 14, 2024

Tridge summary

In 2023, the European Union experienced a notable surge in rapeseed meal consumption, setting a new record at 14.4 million tonnes, marking a 16% increase from the previous year, as reported by APK-Inform citing Oil World data. This rise boosted rapeseed meal's proportion of the EU's total meal consumption to 26%, up from 23% in 2022, while consumption of soybean and sunflower meal fell by 5%. Despite this growth, the first quarter saw a slight dip in rapeseed meal demand, attributed to a 3% price hike in March, in contrast to a 6% decrease in soybean meal prices from Argentina, reaching its lowest point since September 2020.

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

Original content

Thanks to record deliveries against the backdrop of attractive meal prices relative to other oilseed processing products, rapeseed meal consumption in the European Union in 2023 has reached a new peak of 14.4 million tonnes, growing by 16% compared to 2022. , point to data from the authoritative German company for market analysis and forecasts Oil World, cited by the electronic publication APK-Inform. At the same time, the consumption of soybean meal and sunflower meal in the EU decreased by 5% last year. Thus, the share of rapeseed meal in EU meal consumption rose to 26% in 2023 from 23% a year earlier. In the first quarter of this year, the demand for rapeseed meal in the EU has shrunk to some extent due to the ...

Source: Sinor