Oil World on 500 thousand t has lowered the forecast of rapeseed production in the EU
According to experts Oil World, the average yield of rapeseed in the EU in 2018 may be reduced to 2.94 t/ha, which will be the lowest rate of the last 3 years and will give the average 5-year rate of 3.33 t/ha.
compared with 2017 the yield of rapeseed in Germany will decrease from 3.27 to 3.06 t/ha, in France from 3.7 to 3.11 t/ha in the UK – from 3.73 to 3.31 t/ha.
Relative to the previous report, the forecast of rapeseed production in the EU decreased by 0.5 million tons to 19.6 million tons, 2.25 million tons (10%) will yield a crop of 2017 is 21.85 million tonnes and will be the lowest figure the last 7 years.
Experts Oil World I think that compared to 2017 rapeseed production will be reduced:
France – 10.5%, from 5.2% to 4.65 million tonnes,
Poland – 23% from 2.69 to 2.07 million tons,
UK, 3% from 2.1 to 2.03 million tons,
Romania 7.7% from 1.82 to 1.68 million tons,
Bulgaria – 8%, from 490 to 450 thousand tons.
- in Germany, 10% from 4.29 to 3.85 million tons,
After the publication of the report of the August futures on rapeseed Euronext grew by 3.25 €/t to 369,25 €/t, however, due to the depreciation of the Euro to the level of 1,164 $/€ dollar price remained at yesterday's level of 430 $/t
In Ukraine the prices for rapeseed growing since the beginning of the week and has already reached 410-415 $/t or 12800-12900 UAH/t for deliveries to the port.