Oil World sees bigger EU rapeseed crop

July 31, 2013

EU rapeseed crop
EU rapeseed crop

The European Union’s 2013 rapeseed harvest will rise slightly more than expected to 20.5 million tonnes from 19.41 million tonnes in 2012 with good early results in east Europe improving the overall outlook, German oilseeds analyst Oil World said on Tuesday. This was up from 20.40 million tonnes Oil World forecast on July 9 for the 2013 rapeseed crop, the EU’s most important oilseed for edible oil and biodiesel production.

Early harvest results in parts of east Europe are positive, and contributed to the larger crop forecast, Oil World said. But Oil World said it is not as optimistic as some traders about the harvest in the EU’s largest producer Germany. Oil World has maintained its estimate that Germany will harvest 5.75 million tonnes of rapeseed in 2013, up from the weather-reduced 4.82 million tonnes in 2012. Germany’s largest grain trader Toepfer on July 19 forecast Germany’s 2013 rapeseed crop at 6.04 million tonnes.

“Our local contacts indicate that although there is a possibility that the rapeseed crop in Germany may reach or even slightly exceed 6.0 million tonnes as other market players forecast, hard facts are still lacking to support such an upgrade,” Oil World said. It kept its forecast that France will be the EU’s second largest rapeseed producer, harvesting 5.0 million tonnes in 2013, down from 5.48 million tonnes in 2012. Bad weather means Britain’s 2013 rapeseed crop will fall sharply to 2.0 million tonnes from 2.56 million tonnes last year, it said.

Poland’s crop will rise to 2.35 million tonnes from 1.90 million tonnes in 2012, it said, while the outlook in smaller east EU producers is good. Romania’s crop will rise sharply to 520,000 tonnes from just 160,000 tonnes last year, it said. Bulgaria’s will rise to 370,000 tonnes from 290,000 tonnes and Hungary’s to 500,000 tonnes from 400,000 tonnes, it said. Courtesy Reuters

Published in ZaraiMedia.com

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