Global rapeseed acreage to decline in 2024/25 MY, forecast

The global rapeseed acreage may decrease to 42.4 mln ha in the season-2024/25, according to the analysts of the International Grain Council (IGC). They expect that this figure will decrease by 0.7 mln hectares for the year amid the reduction of the crop planting areas in Europe and the Black Sea region.

According to the experts, the decline of interest to the oilseeds cultivation in the current MY will be caused by the decline of the raw material selling prices due to the global market glut.

Thus, according to IGC estimations, in 2024/25 MY India will plant the largest area of rapeseed – 9.3 mln ha (9.2 mln ha in 2023/24 MY, 8.9 mln ha in 2022/23 MY). In Canada, which is the world’s largest producer, 8.9 mln ha will be allocated for the crop (8.9 mln ha; 8.6 mln ha). The areas in China and Australia will remain the same – at 7.4 mln ha (7.4 mln ha, 7.3 mln ha) and 3.5 mln ha (3.5 mln ha, 3.9 mln ha), respectively.

As for the EU countries, the decrease is expected to reach 6 mln ha (6.2 mln ha, 5.9 mln ha). The IGC notes that the decline could be higher, but in recent years there has been a steady demand for rapeseed and processed products from the food, biofuel and livestock sectors.

In the Black Sea region, according to the industry association, the area under the oilseed will decrease significantly: in Ukraine, to 1.6 mln ha (2 mln ha; 1.3 mln ha), and in Russia, to 2 mln ha (2.1 mln ha; 2.3 mln ha).

Tags: Ukraine, China, EU, Canada, India, rapeseed, Australia