French market analyst Strategie Grains has increased its forecast for this year’s rapeseed harvest in the European Union plus Britain to 16.79 million tonnes from 16.54 million.
The upward revision, which ended a run of six consecutive downgrades to its monthly forecast, was mainly due to favourable conditions in Poland and Lithuania, it said in an oilseed crop report.
The expected harvest would still be below last year’s poor crop, which Strategie Grains estimates at 17.12 million tonnes, reflecting disappointing crops in France, Britain, central and eastern Europe, it said.
Rapeseed was affected by a very dry spring in parts of Europe, as well as widespread insect damage.
Strategie Grains is expecting the EU to set another record for rapeseed imports in the 2020/21 season, although it trimmed its outlook to 6.1 million tonnes from a 6.2 million forecast a month earlier.
That would be slightly above a current high of 6 million in the 2019/20 season which ended on June 30th.