World production of rapeseed in the season 2016/17 MG to be the lowest for the last 8 years
According to the updated balance of Oil World, world production of rapeseed in the season 2016/17 MG will be reduced to 60.7 million tons, which is 2.9 million tonnes less than was collected in the season 2015/16 8.9 million tonnes less than was collected in the season of 2013/14 my, and to be the lowest over the past eight years.
Most significantly, the rapeseed crop will be reduced in the European Union – to 20.1 million tons versus 22.31 million tons in the previous season. Some experts believe that the indicated gross yield may be even less due to the uncertain crop prospects for rapeseed in Poland, Germany and the UK. Significantly decrease the production of oilseeds in China from 8 to 6 million tons, Ukraine – from 1.88 to 1.45 million tons, Russia – from 1.01 to 1 million.
it is Worth noting that canola production will increase in Canada from 17.9 to 18.5 million tons, India – from 5.6 to 6.3 million tons, Australia – from 3.0 to 3.6 million tons. But this may not be enough to meet global demand, as according to analysts ' estimates, the supply will be only 66,26 million tons against 69,39 million tons in the season 2015/16. Processing volumes oilseeds in comparison with the previous season decreased from 58.82 million to 61,29 tone.