IGC sees decline in global rapeseed area for the 2024 harvest
High global availability of rapeseed led to a sharp drop in prices and futures market quotations in the past year. The International Grains Council (IGC) therefore expects the world rapeseed area to decline in 2024/25. The area planted with rapeseed is estimated to drop 1.5 per cent year-on-year to 42.4 million hectares, which still clearly exceeds the long-term mean.
The IGC provisionally anticipates the EU rapeseed area to decrease 2.7 per cent to 6.0 million hectares, but the decline will probably be slightly smaller given the continued strong demand for rapeseed products from the feedstuff, food and industrial sectors. Furthermore, in recent years a number of harvests produced high yields despite unfavourable growing conditions. Against this background, the average share of rapeseed area in EU farms‘ crop rotation is set to remain unchanged.
Following a year with a record area sown with rapeseed, the production area in the Black Sea region will probably be reduced in the 2024/25 season. The decline is almost exclusively due to a decrease in rapeseed area in Ukraine. With the growing area currently estimated at 1.6 million hectares, it will probably fall 22.5 percent on the current crop year. Russia is seen to grow rapeseed on an area of 2.0 million hectares in 2024, which translates to an 8.2 per cent reduction on the year.
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