Global rapeseed meal trade to reach new record in 2024/25 MY
According to OilWorld Germany forecasts, the volume of global trade in rapeseed meal will increase in 2024/25 due to the growth of supply on the global market.
In 2023, the record volumes of rapeseed processing led to a new high of rapeseed meal production – 43.9 mln tons compared to 38.6 mln tons in 2022, and consumption increased by 13%.
Experts predict that in 2023/24 the global consumption of rapeseed meal will reach a record 44.5 mln tonnes compared to 42.5 mln tonnes in the previous year, with the largest growth in India (+0.8-0.9 mln tonnes per year), China (+0.6 mln tonnes) and the EU (+0.3 mln tonnes).
The production of rapeseed meal will increase due to the record rapeseed harvest and current high stocks. However, in April, the sales of rapeseed by Indian farmers slowed down sharply due to low prices.
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