Canada's rapeseed supply is becoming scarcer - higher rapeseed prices are expected. Canada is one of the largest rapeseed producers in the world before the EU-28. In contrast to the EU, the North American country is also the world's largest exporter of these oil seeds. Canada produced 18.65 million t of rapeseed in the 2019/20 marketing year. Together with high overlay quantities from the previous year, 22.6 million tons were available. Only 10.2 million tons were processed in their own country. Another 9.1 million tons were exported. Political tensions with China prevented larger export volumes. Deliveries to the EU are somewhat larger, but the GMO regulations limit trade with the EU. The actual final inventory was a comparatively high 3.3 million tons. For the upcoming year 2020/21 , the acreage is reduced by 2%.The low prices mean that other summer seeds are more competitive. Based on an average yield of 22.5 dt / ha, an expected harvest of 18.5 million t is calculated . Domestic consumption is estimated to have decreased to 9.6 million tonnes, largely as a result of lower biodiesel demand. Expectations are higher for exports, which are estimated at 9.3 million t. As a result, at the end of 2020/21 there is only a calculated final stock of just 2.8 million t . Although this is 20 to 25% less than in the two previous years, it is still above average in a long-term comparison. Current rapeseed prices are around € 310 / t, but are affected by the recent fall in the value of the Canadian dollar. Rapeseed prices are expected to rise between € 307 and € 333 / t in the 2020/21 marketing year . The rapeseed price is fundamentally influenced by the crude oil price and in particular by the US soybean oil price.
