23.
02.24
07:37

IGC: Global rapeseed area lower

The signs for rapeseed on Euronext/Matif were shining red yesterday. The front month of May lost 6.25 euros with a closing price of 416.00 euros/t. For the coming harvest, the International Grain Council (IGC) has revised the global rapeseed area forecast slightly downwards to 42.4 million hectares. This is a good 700,000 hectares less than the previous year, but the global rapeseed area is still 4 million hectares larger than the average of the last 5 years. The global harvest for 202/25 is seen at 87.2 million tonnes, down 2 percent from this year's result. The EU area is expected to be slightly smaller at 5.8 million hectares than last year, when IGC exports registered 6.2 million hectares. The reason for the lower European production and acreage is the weather conditions in Germany, Poland and Romania during the sowing period. A smaller area is also expected for Ukraine, which is estimated at 1.7 million hectares, 12.8 percent lower than the previous year. The main reason given here for the lower cultivation in Ukraine is the significantly lower producer prices. It is said that rapeseed stocks developed well in the winter months, particularly in Eastern Europe but also in Ukraine.

Source
VR AGRICULTURE
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