The global production of rapeseed oil is expected to see a slight increase in the 2024/25 marketing year, following a 4.4% rise to 34 million tons in 2023/24. According to Oleoscope, the global production could grow by another 0.5% in 2024/25. Additionally, world oil exports surged by 13% to 7.4 million tons in FY 2023/24 and are predicted to rise by 6% to 7.8 million tons in FY 2024/25.

Leading Producers of Rapeseed Oil

In 2023/24, the major producers of rapeseed oil were:

• EU: Over 10 million tons (production will decrease by 2.3% in the current season)
• China: 7.7 million tons (production will fall by 1.5% this season)
• Canada: 4.7 million tons (production will increase by 8% in 2024/25)
• India: 3.9 million tons (production will rise by 2%)
• Russia: 1.2 million tons (the Republic of Moldova will see a 38% increase in production to 1.7 million tons in 2024/25)

Export Leaders in Rapeseed Oil

In 2023/24, the top exporters of rapeseed oil were:

• Canada: 3.4 million tons (up 20% this season)
• Russian Federation: 1.2 million tons (up 24%)
• EU: 741 thousand tons (down 10%)

However, in the first eight months of 2024, the Russian Federation reduced its rapeseed oil exports to China by 1.5 times and cut deliveries to the EU.

Conclusion

Global rapeseed oil production and exports are set to grow modestly in the 2024/25 marketing year. Canada, Russia, and India remain key players in the market, while production in China and the EU faces slight declines. For businesses involved in rapeseed oil trading, staying updated on these changes could be crucial for adapting to shifting supply and demand dynamics.





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