EU-KOM corrects rapeseed harvest slightly upwards: 19.3 million t In the end of September 22 issue, the EU Commission (EU-KOM) estimates the EU rapeseed harvest at 19.3 million t based on the most recently determined threshing results ( previous year around 17 million t). With unchanged average yields per hectare , the increased acreage is decisive for the result. Consumption is estimated at 23.8 million t . Therefore, an import of around 4.5 million t (previous year 5.6 million t) is necessary to cover demand. Deliveries are from Canada, Australia and partly from Ukraine . Canada's harvests and exports have returned to normal after a disastrous previous year. On the other hand, Australia harvested a record amount of rapeseed of 6.6 million t and mostly exported. Deliveries from Ukraine are uncertain. The Black Sea Agreement, which expires at the end of November, could be terminated by Russia and again lead to a shortage of the rapeseed quantities that can be delivered.After months of falling, rapeseed prices are already rising above €600/t again. Further price developments remain uncertain. Palm oil and crude oil prices exert a great influence in the oilseed market. The courses remain comparatively stable, so that a dampening effect on the other prices of vegetable oil carriers can be assumed.
