In the countries of the EU, about 19,8 million tons of rapeseed can be harvested by the results of the current calendar year against 19,4 million tons in 2022. Such forecast was announced by the experts of consulting company Stratégie Grains, reducing their estimation in comparison to the previous one by 600 thousand tons (from 20,4 million tons) due to drought in the Northern part of the European Union.
Main reduction in Germany
“The main reduction was in Germany, where estimates were reduced by 200 thousand tons, while harvest prospects in France and Central and Eastern Europe are still satisfactory,” – say the experts.
As for imports, Strategie Grains expects an increase in purchases of Ukrainian rapeseed, given the high profitability of processing this oilseed in the Western EU countries and the Baltics.
“Of course, the future of the grain corridor will be critical to supply. If the deal stops completely, it will slow down rapeseed imports as all agricultural raw materials will start to be sold en masse through other marketing channels,” the report notes.
Moreover, Strategie Grains experts reduced the forecast of sunflower seed crops in the EU this year by about 350 thousand tons, to 10.9 million tons, which, nevertheless, is 19% higher than last year.