European experts changing forecasts rapeseed production in the new season

2017-07-03 13:40:37
European experts changing forecasts rapeseed production in the new season

the Agency Strategie Grains in its new monthly forecast lowered its estimates of rapeseed production in EU countries in the current year by 200 thousand MT to 21.12 million tonnes from the heat in Central Europe and France. However, even this figure will exceed last year's by 4.2%.

 

the Forecast of sunflower crop is also reduced by 200 thousand MT to 8.36 million tonnes, up 1% over last year.

 

MARS, the Agency increased the forecast average yield of rapeseed in the EU in may of 3.17 t/ha to 3.22 t/ha, 1.1% below the five-year average figure of 3.25 t/ha.

 

most productivity will grow in the UK and Poland. Compared with 2016 in the UK productivity will rise from 3.07 t/ha to 3.61 ton/ha, which is 6% higher than the 5-year indicator, while in Poland – from 2.69 t/ha to 3.16 t/ha, which is 9.7% higher than the average level of 5 years.

 

In France, the yield will increase from 3.06 to 3.21 t/ha, which is 4.9% below the five-year average values in Germany from 3.46 to 3.7 t/ha, which is 5.3% below the average of the 5 years.

 

In Romania, the yield will fall from 2.84 to 2.69 t/ha, which would still exceed the 5-year figure by 5.6%.

 

the Beginning of the harvesting campaign in the EU and a good harvest forecast put pressure on the price of rapeseed. In the beginning of last week it fell in Germany to 350 euros/ton, and in France up to 358 € /t. However, on Friday prices rose again after the quotations canadian canola, which is expensive with support from the soybean market.