Strategie Grains has increased forecast of rapeseed imports in the EU

European analysis Agency Strategie Grains has increased the forecast of probable imports of rapeseed in the EU in the 2016/17 season MY. The reason for this was the decline in the estimates of gross yield of rapeseed in some European countries, through adverse weather conditions and excessive rainfall.

the Volume of imports increased by 400 thousand tons to 3.3 million tons, which is 15% higher than the end of the season 2015/16. Then it was imported 2.86 million tonnes of rapeseed, which until now was the highest of the last three seasons.

However, this estimate of import is significantly different from other analysis agencies. According to the forecast of the European Commission in the current season will be imported 2.91 million tons of rapeseed. Last week, the balance of the International grains Council estimate of imports of rapeseed in the EU was increased by 300 thousand tons to 3 million tons.

as a result, the French grain exchange rapeseed has risen to 366 Euro/tone or 406 $/ton. In Ukraine, which exports to EU countries about 70% of their rapeseed, price rose to 393-395 $/t on conditions CPT-port and 395-400 $/tone on the GIFT-Poland.