In Germany, UFOP reports that the current USDA report on global rapeseed supply projects hardly any changes for the running season. However, production and consumption are predicted to reach new record levels in 2018/19.
In its May forecast, the USDA sees global 2017/18 rapeseed production unchanged from the previous month’s estimate at 74.3 million tonnes, up around 4.4 per cent from the previous year’s level. World rapeseed consumption is revised slightly lower to 73.1 million tonnes. Consequently, global rapeseed supplies would grow by 0.3 million tonnes to just less than 6.5 million tonnes, exceeding the previous year’s figure by around 1 million tonnes.
In its first estimate for the upcoming marketing year 2018/19, the USDA anticipates a surge in global rapeseed production by 1.1 million tonnes to 75.4 million tonnes. According to Agrarmarkt Informations-Gesellschaft mbH (AMI), this would set a new record, driven mainly by production gains in the EU-28, Australia and India.