Strategie Grains has once again revised down its projection for this year’s rapeseed production in the European Union, lowering the forecast to 18.1 million metric tons, marking a decrease from the previous estimate of 18.3 million tons.
The downward adjustment is primarily attributed to an anticipated reduction in harvest volumes in France. The latest forecast indicates a 9% decline compared to last year’s rapeseed harvest of 19.9 million tons. In response to the diminishing domestic supplies expected in the 2024/25 season, Strategie Grains foresees an increase in rapeseed imports from countries such as Australia and Ukraine to meet demand.
Despite the adjustments in the rapeseed outlook, the consultancy’s EU sunflower production forecast for 2024 remains largely unchanged at 10.7 million tons, reflecting a 10% increase from the previous year. Additionally, the soybean output forecast is maintained at 3.1 million tons, representing a 9% rise compared to last year’s production levels.