Increase in rapeseed production reduces import demand

According to information published by the EU Commission, the rapeseed harvest in the EU-27 was significantly larger in 2022 than in 2021. It is pegged at 19.6 million tonnes, which translates to a rise of around 2.5 million tonnes compared to 2021. In other words, the EU harvested the largest crop in five years, although substantial harvest losses had been expected because of the continued dryness and heat. According to investigations conducted by Agrarmarkt Informations-Gesellschaft (mbH), the rise is mainly the result of rapeseed harvest increases, especially in France and Germany. Denmark, Lithuania and Poland also recorded a rise. The harvest increases more than offset production declines in other member states. In other words, harvest figures are above-average again for the first time in four 4 years.

Total consumption in the EU-27 is seen at 24.2 million tonnes, up around 9 per cent year-on-year. Demand from oil mills is estimated at 23.3 million tonnes, which would also be an increase of just less than 9 per cent on 2021/22. A year earlier, just under 80 per cent of EU processing was sourced in European production. In 2022/23, the share will presumably climb to just over 84 per cent. For this reason, the EU Commission expects that in the current crop year less rapeseed will have to be imported. Rapeseed imports are forecast at 5.1 million tonnes, which is down 8 per cent compared to the previous year’s volume. Ending stocks are seen to remain unchanged form the previous year at a below-average level of 0.5 million tonnes.