Global rapeseed production may be larger than estimated a month ago on improving prospects for India and Australia, Oil World said. Palm oil output may also be bigger than previously projected.
The world’s rapeseed harvest will be 61.3 million tons in the 2012-13 season, 500,000 tons more than forecast a month ago and 900,000 tons higher than a year earlier, when the global harvest fell to a three-year low, the Hamburg-based researcher said today in an e-mailed report. Estimates for India and Australia were revised to 7 million tons and 3.2 million tons, respectively. In a Jan. 18 report, Oil World pegged those countries’ crops at 6.7 million tons and 3.15 million tons.
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