In the season 2016/17 MG global rapeseed production will decrease
Analysts Oil World cut its forecast of the world rapeseed production in the season 2016/17 MG relative to previous forecast by 0.7 million tons to the level of 63,65 million.
Expectations regarding gross yield of rapeseed revised for the following countries:
- China – to 8.5 mln tonnes, against the previous 9.5 million tone,
- EU countries – up to 21.75 million tone against 22.34 million tone,
- Ukraine – to 1.38 million tons compared to 1.85 million tone,
- India – to 6.3 million tonnes compared to 5.6 million tons,
- Australia – up to 3.6 million tons compared to 3.0 million ton,
- Canada – to 17.2 million tons versus 17.23 million ton.
it is Reported that the main reason for the drop in production will reduce acreage under rapeseed, because many farmers pereorientirovanija to the cultivation of more profitable crops. At the same time in Australia, India, Canada and Russia it is planned to increase the area under oilseeds. Overall in the season 2016/17 MG in the world rape will be sown 33.1 million hectares, while last season the figure was 33.3 million hectares. Experts predict that the average yield of rapeseed in the new season will be lower than in the previous year, but 5 % higher than the average for the last 5 years.
Thus, the volume of the world's supply of canola in the season 2016/17 MG is insufficient and will be 69,03 million tone against 70,29 million tons in the current season.