StatsCan: Canada's 2021 rapeseed harvest will fall 25% year-on-year. The latest Canadian rapeseed harvest estimate is 14.7 million t or around 25% worse than in the already weak previous year. In the previous month's forecast, 16 million t were assumed. For comparison: in the peak year 2017/18, around 22 million t were harvested. The background to the poor harvest is the great heat wave that hit large growing areas. Saskatchewan has to cope with the biggest setback with a harvest slump of -33%. But Alberta and Manitoba are also there with -14% each. Canada is the world's largest rapeseed export area with a trade share of around 60% . This year's short harvest will significantly reduce the already low availability of rapeseed worldwide. For importing countries like the EU, it is becoming difficult to get enough goods on the market. It is unlikely that the EU will succeed in introducing the previously estimated 5 million t.In addition, the lower purchasing power of the euro leads to higher import prices. This development will give the rapeseed prices, which have already risen, a further boost. In Canada, rapeseed is listed on the Winnipeg Stock Exchange at € 613.5 / t. In Paris, the rapeseed price rises to € 573 / t. Even if the cultivation for the 2022 harvest should increase due to price factors, the reduced stocks will ensure that the scarce goods will continue to contribute to above-average prices into the next harvests.
