Strategie Grains cuts EU rapeseed crop forecast again

Strategie Grains has lowered its forecast for the 2021 rapeseed harvest in the EU for the second month in a row and is monitoring the risk of localized damage to crops from wintry weather this week, the consultancy said April 6.

In a monthly oilseed report, the French firm reduced its outlook for this year’s rapeseed harvest in the 27-country European Union to 16.8 million tonnes from 17.05 million forecast last month.

In March, it had trimmed its forecast by 90,000 tonnes.

The latest 2021 production outlook would be 3.4 per cent above a poor 2020 crop of 16.25 million tonnes.

This month’s downward revision mainly reflected the factoring in of a reduced official German estimate of rapeseed area, said Hemeline Macret, Strategie Grains’ oilseed desk manager.

A limited recovery in harvest output could keep EU supply low at a time when soaring prices for oilseeds and vegetable oils have encouraged processors to scoop up available stocks.

Rapeseed crops endured another drought-affected sowing campaign, notably in France.

The oilseed is now facing late frosts in western Europe as plants enter the crucial flowering stage. Parts of France registered record lows for April early on Tuesday at between -4 and -7 C.

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