Agricultural producers in Germany may reduce the area under winter rapeseed from year to year by 4-7% – to 1.09-1.13 million hectares. This is reported by Nasdaq with reference to the forecast of analysts of the national association UFOP (Union for the Promotion of Oil and Protein Plants).
“Unfavorable weather hampered sowing: the early start of fieldwork was hampered by a rainy summer, followed by a change to a very dry autumn,” the report said.
At the same time, heavy rains in October-November this year had a favorable effect on the soil condition after a prolonged drought.
Experts also emphasized that the decline in the interest of local agrarians in growing winter rape is associated with the fall in prices for oilseed rape in 2023.
At the same time, forecasts for next year regarding demand for rapeseed in the EU are still optimistic, especially from the biofuel sector. The bloc’s countries are abandoning the use of palm oil in biodiesel. The EU has said it intends to restrict palm supplies unless products are certified as free of deforestation during production. Such rhetoric may lead to an increase in the share of rapeseed oil used in the EU as a feedstock for eco fuels, UFOP believes.