The agricultural consulting firm Stategie Grains has reduced its forecast for this year's rapeseed harvest in the European Union from 18.05 million tons (previous month's estimate) to 17.85 million tons.
The updated forecast is 5.7% above the result of the previous year's harvest of 16.89 million tons, which marked a 13-year low.
The reason for the reduced forecast is the expected smaller acreage in Europe, which is now estimated at 5.49 million hectares. In the previous month, the expected acreage was still 5.55 million hectares, which would be stable compared to the previous year.
The forecast is based on the EU-28 until a new trade relationship is negotiated after Britain's withdrawal from the bloc.
Source
HANSA Terminhandel
