Strategie Grains has raised its forecast for the rapeseed harvest in the EU plus Britain for the second month in a row. Good results from central and northern Europe have caused the consultancy firm to increase its production outlook from 17.09m tonnes from its estimate of 16.79m tonnes a month ago.
Despite the projected increase, this new production estimate is still slightly below last year’s crop, estimated at 17.32m tonnes, which Reuters reported was the smallest crop since 2006.
Strategie Grains also raised its projection for 2020-21 imports to 6.2m tonnes, up from 61.m tonnes, saying demand for the oilseed should keep the EU plus Britain on the path to record imports this year. Rapeseed stocks at the end of 2020-21, however, are forecast to fall sharply from last season to 1.1m tonnes, which the consultancy said is a "very low level" that should support EU prices.
We have added this data to our EU rapeseed 2020-21 live forecast. For the previous season’s data, you can consult our EU rapeseed 2020-19 live forecast.
Other live forecasts updated today: