The European Union reached record rapeseed processing in the 2023/24 agricultural year

Rape Leaves

Nuts & Seeds

France

Published Mar 20, 2024

Tridge summary

The first half of the current agricultural year saw a record 12.8 million tons of rapeseed processed by EU countries, a 650,000 ton increase from the previous period, according to Oil World data. This surge, particularly noted in Germany and Poland, is due to legislative and technical changes boosting production and processing, coupled with a growing demand for rapeseed oil in the feed, food, and transport sectors. However, a decrease in processing volumes is anticipated in the first half of the current calendar year due to a drop in domestic supply and imports.

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Original content

The EU countries achieved record volumes of rapeseed processing of 12.8 million tons in the first half of the current agricultural year (for oilseeds in the EU it begins in October). Such data was provided by the independent analytical agency for researching global commodity markets Oil World. This is 650 thousand tons higher than the figure for the previous period of this year. In three months it increased by 200 thousand tons - from 6.65 to 6.67 million. Such successes may have been facilitated by legislative and technical changes that stimulated the production and processing of this crop. And the need for this is associated with the growing demand for rapeseed oil not only in the feed and food sectors, but also in transport. Let us recall that in some countries of the block, as part of the new environmental policy, they began to switch to alternative biodiesel fuel, which includes this product. Read also In 2023, Russia increased exports of oil and fat ...

Source: Rosng