In the 2019/20 marketing year, the international grains Council (IGC) expects a small increase in world rapeseed production in comparison with the previous year, primarily due to growth in Australia, one of the most important exporters of rape in the world. In the 2018/19 marketing year the local crop declined due to drought and reduction of acreage, but next year the production should reach its normal high of 3.7 million tons.
Due to favourable weather conditions is expected to increase the harvest of rapeseed in Ukraine and in India.
The reduction in rapeseed crop in Canada and the EU, is due to the decrease in acreage.
However, in the end, all these factors compensate each other, so it is expected a slight increase compared to the previous year, while the global production of this oilseed is likely to remain significantly below the level of the marketing year 2016/17.
Total supply and consumption in the global market of rapeseed are in the same ratio as in previous years.
It is expected that by the end of the fiscal year again will be available to nearly six million tons of rapeseed. Of these, more than 70 percent are kept by the world's largest exporters: Australia, Canada, and Ukraine.
Global trade in rape, likely significantly quicken plus nine percent compared with the previous year, driven by demand in the Asian region and in the EU.
Translated by service "Yandex.Translation"