Rapeseed output in the Black Sea region for 2011/12 is set to fall, putting further pressure on new crop prices, Hamburg-based oilseed analyst Oil World said on Tuesday. Export supplies from the Black Sea region's four major exporters - Ukraine, Romania, Bulgaria and Russia - are seen at 2.8 million tonnes for the July 2011 to June 2012 period, down from more than 2.9 million exported in 2010/2011, Oil World said.
"Rapeseed harvesting had a poor start in the Black Sea region, probably leading to some delays in new crop and creating some price firmness," it said. The EU-27, by far the largest destination for rapeseed from the region, is likely to receive 2.5-2.6 million tonnes, Oil World said. A year ago, it received 2.6 million tonnes, up from 2.3 million tonnes the previous year.
"This implies somewhat lower exports to Turkey and Israel, and a stop of exports to Pakistan, which will probably completely switch to importing sunseed," it said. Oil World said previously that the 2011/2012 EU rapeseed crop would fall to a four-year low of 18.91 million tonnes, from 20.5 million tonnes in 2010/2011.
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