Global Rapeseed Output Forecast Cut by Oil World on EU Supplies
Global production of rapeseed may be smaller than forecast a month ago as prospects diminish for crops in the U.K. and France, Oil World said.
Production of rapeseed in the 2013-14 season may climb 1.4 million metric tons to 63.99 million tons, down from an increase of 1.6 million tons forecast a month ago, the Hamburg-based researcher said today in an e-mailed report. The European Union’s crop, the world’s largest, may be 19.89 million tons, below the previous forecast of 20.2 million tons. Output still will be larger than last year’s crop at 19.31 million tons as production increases in countries including Germany, Poland and the Czech Republic.
“Total EU rapeseed supplies will rise only fractionally, keeping import requirements high,” Oil World said. “The rapeseed crops have reportedly developed quite favorably in several EU member countries, largely making up for the delayed development resulting from the unusually cold conditions in March and the first half of April.”
U.K. rapeseed production may drop to a five-year low at 1.9 million tons as wet weather erodes crop conditions and spurs farmers to abandon fields, according to the report. In France, the crop may slide 6.6 percent from a year earlier as acreage declined. Germany is set to overtake France as the EU’s biggest grower, as output rises 13 percent to 5.45 million tons.
Oil World left its forecast for Canada’s production of canola, a variety of rapeseed, unchanged at “a near-record” 14.5 million tons. Australian output will be at a three-year low of 3 million tons.
Global production of sunflower seed may be 38.7 million tons, up from 36.2 million tons a year earlier, Oil World said. Farmers in Ukraine, the world’s biggest grower, planted 3.96 million hectares (9.8 million acres) of sunflowers as of May 15, while 4.7 million hectares were sown in Russia, the second-biggest producer.
“Plantings of sunseed are progressing rapidly in the major producing countries of the Northern Hemisphere, facilitated by warm and dry weather conditions,” Oil World said. “Although weather is not yet having any significant impact on the sunseed crop in Russia and Ukraine, further developments need to be watched closely.”
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