German agricultural producers could use the cultivated areas for winter oilseed rape reduce by 4-7% from year to year – up to 1,09-1,13 million hectares. Nasdaq reports this, citing the forecast of analysts from the federal association UFOP (Union for the Promotion of Oil and Protein Plants).
“Adverse weather conditions hampered sowing: the early start of field work was hampered by a rainy summer, followed by a change to a very dry autumn,” the report said.
At the same time, the heavy rains in October/November this year had a positive effect on the condition of the soil, which had previously experienced a long period of drought.
The experts also emphasized that the waning interest of local farmers in growing winter rapeseed is due to the decline in rapeseed prices in 2023.
At the same time, the forecasts for next year are still optimistic regarding the demand for rapeseed in the EU, especially as regards the Biofuel sector. The countries of the Union are in the process of banning the use of palm oil Biophase out diesel gradually. The EU has announced that it will restrict the supply of palm oil unless the products are certified as free of deforestation during production. According to the UFOP, this rhetoric could lead to the share of rapeseed oil in the EU being used as a raw material for... Biofuel increases.
Source: oleoscope (Russian)