Historically high prices and growing demand point to the expansion of world rapeseed acreage to a record 40 million hectares in the 2022-2023 season, resulting in a bumper harvest, reports the International Grains Council’s (IGC) forecast.
The IGC expects the largest increase in rapeseed production in Canada and the EU. According to studies by the German Agrarmarkt Informations-Gesellschaft mbH (AMI), the sown area for rapeseed in the European Union will be 5.6 million hectares in 2022. Even if the UK’s sown area is added, the resulting figure will still be 1 million hectares less than in 2017, when rapeseed took up a record 6.8 million hectares.
Selling conditions for rapeseed producers in 2022 remain attractive. In the EU, quotas for biofuels from palm oil (biodiesel/HVO) expire in 2023. Biofuel producers are looking for alternatives. Rapeseed oil is the best candidate.
The crop starts to be sold during sowing. Therefore, in 2022 it is necessary to set rules for planning crop rotation until 2023. In the 2021-2022 season, a poor harvest led to an increase in world prices for rapeseed. The IGC expects a 4% increase in sown area in Canada to 9.4 million hectares. In Ukraine, the area under rapeseed will increase to 1.1 million hectares, according to the IGC. This is 100 thousand hectares more than last season.
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