The price of rapeseed resumed growth against the background of reduced production in Canada

Last week, the experts of the canadian Bureau of statistics unexpectedly decreased compared to the August estimates of the forecast canola harvest in the country from 19.4 to 18.7 million tonnes, which would match last year's level. As a result, the stock price of canola rose to 598 CAD/ton, after Monday they dropped to 590 CAD/t or 461 $/t

In Europe, February futures for rape after a decline in late November following the soybean market prices, during the week increased by 4 €/t to 408 €/t, and due to the strengthening of the Euro, the dollar price reached 494,36 $/t

Consulting company Strategie Grains in the first forecast of rapeseed crop for 2021 in the EU and the UK estimated at 18.2 million tonnes compared to 17.2 million tons in 2020

a Slight increase in production due to the reduction in sowing areas of rape compared to the previous year from 5.57 to 5.5 million hectares (6.92 million hectares in 2018/19 MG) as dry weather of August and September in Romania and France is not allowed to increase acreage. And manufacturers of great Britain refused to sow canola through low yields and problems with insects.

Experts Strategie Grains left import forecast of rapeseed in the EU at the level of 5.9 million tons, which is inferior to a record 6.3 million tons of the previous season, while imports canola from Canada and Australia will grow.

In Ukraine because of dry weather in the sowing area of rapeseed compared to last year also decreased from 1.1 million ha to 900 thousand hectares.