Australia expects a decline in rapeseed production

Source:  OleoScope
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Rapeseed production in Australia in the season 2023/24 may decrease by 41% – down to 4.9 million tons. Such forecast was announced by analysts of the National Bureau of Agriculture and Resource Economics (ABARES). According to experts, the drought in some regions of the country “will end the series of three consecutive record harvests”.

According to the German agricultural agency Agrarmarkt Informations-Gesellschaft mbH (AMI), there are two main reasons for this sharp decline: firstly, lower oilseed yields due to the expected El Niño weather phenomenon, and secondly, a partial reduction in the area under the crop.

AMI experts also noted that high harvests in recent years have led to overstocking of storage capacity and, as a result, problems with the quality of oilseeds.

“Nevertheless, the prospects of high profitability served as a sufficient incentive for rapeseed producers, as a result of which only low-yield lands in arid areas were withdrawn from crop rotation,” the agency added.

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