World canola and rapeseed exports up 40% to 2.92 mln tons in April-May

According to Oil World estimates, global exports of rapeseed and canola in April-May this year increased by 40% compared to the same period of 2023, amounting to 2.92 million tons.

The increase in shipments was demonstrated by:

• Canada – to 1.39 million tons (1.24 in 2023)
• Australia – up to 1.32 mln tons (0.85)
• Ukraine – up to 206 thousand tons (29)

The largest volume of oilseeds was imported by China – 1.07 (0.91) million tons and EU countries – 0.87 (0.23) million tons.

Since the beginning of MY 2023/24, world exports of canola and rapeseed are estimated at 15.41 million tons compared to 16.57 million tons in July-May MY 2022/23.

Top 3 oilseed exporters:

• Canada-5.96 million tons (7.37 by MY 2022/2023)
• Australia – 5.67 million tons (5.35)
• Ukraine – 3.66 million tons (3.42)

The main buyers in the current season are:

• China – 4.07 million tons (4.17)
• EU – 5.81 mln tons (6.59)
• Japan – 1.97 mln tons(1.68)
• Mexico – 1.14 million tons (1.22)

The International Grains Council (IGC) forecasts global rapeseed production at 87.2 million tons in 2024/25, down 2% from last year due to reduced planted area and lower yields. UFOP forecasts higher rapeseed prices and advises farmers to adjust their 2025 planting plans to meet rotation needs by increasing the area under the crop.

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