EU rapeseed prices began to look optimistic

Published 2024년 2월 22일

Tridge summary

The European Union is set to see a 7% drop in rapeseed production this year, falling to 18.4 million tons, due to a significant reduction in the cultivated area across most EU countries, says Strategie Grains. This decline, especially in Eastern Europe, is predicted to result in increased imports in 2023/24, with Australia and Ukraine as the primary sources. Despite a projected decrease in the global rapeseed area for 2024/25, the prices for rapeseed and sunflower are anticipated to increase due to tight EU and global vegetable oil balances.

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

Original content

The AgroXXI.ru portal has read the article by German agroanalyst and grain market observer Dr. Olaf Zinke, who in the online publication Agrarheute.com reports the following dynamics of the rapeseed market: “According to the analytical company Strategie Grains, a decline in rapeseed production in the European Union is expected this year by 7% to 18.4 million tons. Reason: Cultivated area has declined sharply in most EU countries due to weather conditions. The reduction in rapeseed area, especially in Eastern Europe, should at the same time lead to more imports than supplied in 2023/24. Australia and Ukraine supply rapeseed to this region. In France and Germany, winter rapeseed is likely to perform better than winter wheat, which was particularly affected by heavy autumn rains. “Average rapeseed and sunflower prices are expected to rise in 2024/25 due to tight EU and global vegetable oil balances,” Strategie Grains said. For the current 2023/24 season, Strategie Grains has made ...

Source: Agroxxi