The USDA predicts an increase of rapeseed production in 2017/18МР

2017-06-13 12:44:49
The USDA predicts an increase of rapeseed production in 2017/18МР

the Department of agriculture of the USA in the next report predicts global production of rapeseed and canola at the level of the 72.5 million tons, compared with 69,05 million tons in 2016/17 MG and 70,05 million tons in 2015/16МР.

the USDA slightly decreased its forecast of rapeseed crop for the European Union for 200,000 tons to 21.1 m tonnes (compared to the may forecast) , referring to the drought in Western Europe due to a lower forecast yield of 0.05 tons per hectare to below average 3.18 tons per hectare.

 

the Outlook for Ukraine has a number of interesting questions. So the forecast of rapeseed production increased to 2.1 million tonnes, compared with 1,256 million tons in 2016/17 and 1,764 million tons in 2015/16МР. While exports are projected to send 1.35 million tonnes, and domestic processing 740тис tonnes compared to 200 tonnes the previous season. It seems strange, since the increase of rapeseed processing by 270% seems unlikely even with the increase in processing capacity of oilseeds in Ukraine to a record 20 million tons per year, because every year exported nearly 90% of rape and rates of exporters were much more attractive, and, given the large carry-over stocks of sunflower and the demand for sunflower oil producers are unlikely to switch to processing of rapeseed.

 

On the Euronext rapeseed prices remain at the level of 359,25 Euro/ton or 402,14 $/t but factors to growth rates yet.

Prices for Ukrainian rapeseed of the new harvest still remain at the level of 390 $/t delivery port in July.