Oil World forecasts global rapeseed production
According to a new forecast of analysts of Oil World, world rapeseed crop in 2017/18 MRO can be 63,04 million tonnes, which is slightly inferior to the previous season at 63.6 million tons Thus, the 2017/18 season will be the fourth in a row when global rapeseed production is reduced.
So, the harvest of oilseeds in Canada will be reduced from 19.5 to 18.8 million tonnes, China from 6 to 5.6 million tonnes, India from 7 to 6.4 million tons and Australia – from 4.42 to 3.5 million tons.
at the same time improved the prospects of the gross harvest of rapeseed in the EU from 20.48 to 22.04 million tons, mainly thanks to France, Poland and Germany. In the CIS countries, the overall harvest may increase from 2.76 to 4 million tonnes, which exceeds the average five-year rate to 3.74 million tonnes, it is Expected that the total harvested area under rapeseed in the CIS countries will grow by 30% per year and the average yield of 12%.
the Forecast of dry weather in Canada for the next week raised the price of canola in Chicago from 493 to 500 CAD/t or 394,66 $/t for November deliveries.
In Paris quotes rape are at the level of 367.5 €/t or 431 $/t for deliveries in November.
In Ukraine, the price of rape decreased due to the strengthening of the hryvnia against the dollar, and is within 12000-12100 UAH/t in the domestic grain elevators and 12400-12500 UAH/t or 410-415 $/t at the port.
Processors offer 11900-12300 UAH/t with delivery to the plant.