Oil World Ups Rapeseed Production Estimates
Oil World has revised its global rapeseed production forecast for 2009/10 to 56.5 MMT. That's over 2 MMT up on it's previous forecast of 54.3 MMT, although still a little behind 2008's 57.8 MMT.
Output in the EU-27 is now seen at 20.3 MMT, they say, up sharply from 18.4 MMT a month ago and 18.9 MMT last year.
China's production is raised to 12.8 MMT (previously 12.4 MMT; 2008/09 11.5 MMT).
Elsewhere Canadian output is now pegged at 9.9 MMT (10.2; 12.6), Ukraine 1.7 MMT (1.5; 2.9) and in Australia 1.7 MMT (1.8; 1.9).
Global use should reach 57.7 MMT (56.6; 55.5) and ending stocks 5.7 MMT (5.0; 7.0) they say.
Output in the EU-27 is now seen at 20.3 MMT, they say, up sharply from 18.4 MMT a month ago and 18.9 MMT last year.
China's production is raised to 12.8 MMT (previously 12.4 MMT; 2008/09 11.5 MMT).
Elsewhere Canadian output is now pegged at 9.9 MMT (10.2; 12.6), Ukraine 1.7 MMT (1.5; 2.9) and in Australia 1.7 MMT (1.8; 1.9).
Global use should reach 57.7 MMT (56.6; 55.5) and ending stocks 5.7 MMT (5.0; 7.0) they say.