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

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 volume 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 region, the area under rapeseed will also decrease, with the largest decrease in Ukraine. At the same time, approximately 2 million hectares will be sown with rapeseed in the Russian Federation in 2024/25, or 8.2% less than in the previous season.