The global rapeseed area could decline to 2024 million hectares in the 25/42,4 season, predict analysts at the International Grain Council (IGC). They expect this number to fall by 0,7 million hectares over the course of the year as the area under cultivation in Europe and the Black Sea region will decline.
According to experts, the decline in interest in oilseed cultivation in the coming agricultural year will be due to lower prices for the sale of raw materials in the periodusaThis can be attributed to the global oversaturation of the market.
According to IGC estimates, most rapeseed will be grown in India, with 9,3 million hectares in the 2024/25 marketing year (9,2 million hectares in the 2023/24 marketing year; 8,9 million hectares in the 2022/23 marketing year). In Canada, the world's largest producer, 8,9 million hectares (8,9 million hectares; 8,6 million hectares) will be available for cultivation. The areas in China and Australia remain at 7,4 million hectares (7,4 million hectares; 7,3 million hectares) and 3,5 million hectares (3,5 million hectares; 3,9 million hectares), respectively. hectares) unchanged.
A decline to 6 million hectares (6,2 million hectares; 5,9 million hectares) is expected for EU countries. The IGC notes that the decline could have been higher, but there has been steady demand for it in recent years Rapeseeds and processed products from the food sector, Biofuels and livestock.
In the Black Sea region, the industry association estimates that the area under rapeseed will decline significantly: in Ukraine to 1,6 million hectares (2 million hectares; 1,3 million hectares) and in Russia to 2 million hectares (2,1 million hectares). . hectares; 2,3 million hectares).
Source: oleoscope (Russian)
