IGC Report Forecast Rise in Global Rapeseed Production

MUMBAI, 19 July (Commoditiescontrol): The International Grains Council (IGC) has announced a projected increase in global rapeseed production for the 2024/25 season. According to the report, global output is expected to reach 80 million tons, up from 78 million tons in the previous season. This anticipated growth is largely attributed to favorable weather conditions and expanded plantings in key rapeseed-producing regions.

In Europe, the European Union (EU) remains the largest producer of rapeseed, with production forecasted to rise to 19 million tons from 17.5 million tons last season. This increase is driven by improved yields in France and Germany, following adverse weather conditions in previous years.

Canada is also expected to see a slight increase in its rapeseed production, with forecasts suggesting an output of 21 million tons, up from 20.5 million tons in the previous season. This rise is attributed to better weather conditions and increased acreage.

Conversely, China’s rapeseed production is projected to decline to 13 million tons from 14 million tons last season. The decrease is attributed to unfavorable weather conditions and reduced plantings. Meanwhile, India's production is anticipated to remain stable at 8 million tons, showing no significant change from the previous season.

Rapeseed/canola: Production in selected countries

Despite the overall increase in global production, the IGC report highlights potential challenges with tight stocks. Global ending stocks are projected to decrease to 5 million tons, down from 6 million tons last season. This reduction is driven by strong global demand, particularly from the biodiesel and food industries.

In terms of price trends, the IGC notes a mixed outlook. Prices have remained stable in the EU and Canada, while declining production in China has led to price increases in the Asian market.

The global rapeseed market is expected to remain competitive, with increased exports from the EU and Canada helping to offset reduced supplies from China. The tight global stocks and robust demand for biodiesel and food applications may contribute to market volatility. Stakeholders are advised to closely monitor these trends to navigate the evolving market dynamics effectively.

(By Commoditiescontrol Bureau; +91 98201 30172)