The IGC predicts a reduction in global canola acreage in FY2024/25

Published 2024년 1월 25일

Tridge summary

The International Grains Council forecasts a decline in the global area planted with rapeseed in the 2024/25 season, particularly in Ukraine, due to falling prices and futures market quotations. The global rapeseed area is projected to shrink to 42.4 million hectares, though this remains above the long-term average. The EU and the Black Sea region will also see decreases, with Ukraine being the hardest hit. In the Russian Federation, rapeseed will be sown on around 2 million hectares, marking an 8.2% decrease from the previous season.

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Original content

Experts of the International Grains Council IGC predict that in the 2024/25 season, the area planted with rapeseed in the world will decrease compared to the previous season, especially in Ukraine. A significant amount of rapeseed offers last year led to a decrease in prices and quotations on the futures market. As a result, the global rapeseed area will decrease to 42.4 million hectares in 2024/25, which will still exceed the long-term average. According to the forecast, the area under rapeseed in the EU will decrease by 2.7% to 6 million hectares, although the final figure may be higher, given the high demand for rapeseed products from the fodder, food and industrial industries. In the Black Sea ...

Source: Graintrade