EU rapeseed supply to remain tight, says Strategie Grains

PARIS: Strategie Grains maintained its outlook for higher rapeseed production in the European Union this year but warned that overall supply could remain tight.

In a monthly oilseed report, the consultancy kept its forecast for this year’s European Union rapeseed harvest almost unchanged at 17.03 million tonnes, 2.5% above estimated 2020 output of 16.61 million.

European farmers are in the middle of rapeseed harvesting, with output of the region’s main oilseed crop - used for making edible oil, biodiesel fuel and livestock feed - widely expected to surpass last year, though heavy rain in early summer has raised concerns over crop damage. Despite the forecast production increase, EU rapeseed stocks by the end of the 2021/22 season are now expected to decline further from an already low level in 2020/21, Strategie Grains said.