For another year, global production is declining
The US Department of Agriculture’s (USDA) October report summarized the global oilseed market, including canola. Forecasts show that there will be less of it in the world. The total amount produced was 87.4 million tons, which is a lower result than the previous two years (88.90 million tons in 2022/2023 and 89.33 million tons in 2023/2024).
Traditionally, the largest amount of rapeseed is produced in Canada (20 million tons). In second place is the EU (17.5 million tons). Canada is also the largest exporter of canola in the world (7.4 million tonnes) and the EU is the largest importer (6.7 million tonnes).
The third largest player of the market of rape is China. There they produce 15.8 million tons, all of which are used within the country. To meet its needs, China must rely on imports of 3.4 million tons.
The fourth largest producer of rapeseed is India with 12.1 million tons, but in the subcontinent the production is also used for own needs.
In the current season, rapeseed stocks will amount to 8 million tons and will decrease by 2.1 million tons compared to the previous period. And if we add the fact that global consumption of canola is at an all-time high of 89.1 million tons, it can be expected that its price will rise.
The European Union is the largest consumer of rapeseed in the world (24.5 million tons). Both for consumption and for technical purposes – for biofuels.
Estimates presented in the USDA report show that production of rapeseed in the EU in the current 2024/2025 season will amount to 17.5 million tons. This means a decrease of 2.5 million tons (13%) compared to last season, and it will be consecutive. The expected rape yield is 3.06 t/ha. In the last five years, rapeseed statistically yields about 3.2 t/ha in the EU.
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What strategies are being implemented by rapeseed producers to cope with environmental changes and ensure sustainable production in the future?
Sure, I’d be happy to help with that! Here are some possible questions for the interview:
1. Can you give us an overview of the current global rapeseed production situation, and how does it compare to previous years?
2. What are some of the main factors contributing to the decline in global rapeseed production, and how are producers adapting to these challenges?
3. As one of the largest rapeseed importers in the world, how does the EU manage its demand for rapeseed and ensure a consistent supply?
4. With the increasing demand for rapeseed and a decrease in production, what are the potential impacts on international trade and prices within the industry?
5. What are some of the key advantages and disadvantages of using rapeseed for both human consumption and technical purposes (such as biofuels)?
6. How does the EU’s approach to supporting rapeseed cultivation, both financially and through policy measures, compare to other major producers like Canada and China?
7. With the changing climate and environmental concerns, is there potential for new regions to become major producers of rapeseed in the future? If so, what challenges might they face?
