Source: Oleoscope (Russia)
The Union zur Förderung von Oel- und Getreidesaaten e.V. (UFOP), founded by the German Farmers’ Association, warns of an impending global rapeseed shortage.
The International Grains Council (IGC) forecasts a global rapeseed production of 87.2 million tons for 2024/25, which corresponds to a decline of 2 % compared to the previous year, as acreage and yields are falling.
In Australia, a major rapeseed producer, the harvest is expected to fall to 5.4 million tons, 700,000 tons less than in previous forecasts and 4.5% less than in 2023. Ukraine is also facing challenges: Production is expected to amount to 4.9 million tons, 500,000 tons below previous forecasts. Western Europe was hit by unfavourable weather conditions such as excessive rainfall and pests, which led to a 5.1% drop in EU rapeseed production to 18.7 million tons.
UFOP anticipates higher rapeseed prices and advises farmers to adjust their sowing plans for 2025 to meet crop rotation requirements by increasing acreage.
Growing demand from the biofuel sector, driven by the phase-out of palm oil-based biofuels in Germany, France and Sweden, is expected to influence rapeseed acreage and crop rotation strategies. Global biodiesel production is expected to reach a record 76.3 million tons in 2024. The IGC previously estimated that global biodiesel production, including hydrogen-treated vegetable oil (HVO), was 71.5 million tons last year, an increase of 11% from 2022.
Earlier, global rapeseed prices had risen to a 16-month high, crossing the €500 (Rupees 47,75,000) per tonne mark, and continue to rise in the face of lower yields.