Australian Rapeseed Crop Estimates Lowered

The Australian Oilseeds Federation has cut its estimate for Australia's largest oilseed crop, rapeseed, to 1.401 million tonnes, from the 1.505 million tonnes forecast a month ago, citing a mixture of high temperatures and insufficient rain in eastern states.

This latest crop estimate would still be 31 percent higher than last season's harvest of 1.069 million tonnes.

ABARE recently cut its Australian canola output estimate by around 20% to 1.3mmt. That is 320,000mt lower than last months estimate of 1.62mmt.

"A lack of spring rainfall across Victoria, South Australia and southern New South Wales has resulted in a marked deterioration in the major winter crops," the Canberra-based government forecaster said in a report.

Australia is normally the worlds third largest exporter of rapeseed, but may have to import seed this year some analysts are saying.