Oilseed harvest in Canada will decrease in 2024/25 MY – forecast
The production volumes of major oilseeds in Canada in the season-2024/25 may decrease to 24.86 mln tonnes from 25.4 mln tonnes in 2023/24. This forecast was published by the analysts of the Foreign Agricultural Service of the USDA (FAS USDA).
According to their estimates, the harvest of canola in 2024/25 MY is expected to reach 18.069 mln tonnes against 18.328 mln tonnes in the previous season; soybeans – 6.716 mln tonnes against 6.981 mln tonnes; sunflower – 76 thsd tonnes against 92 thsd tonnes.
In addition, by the end of 2025, according to experts, the country’s oilseed processing capacity will increase to almost 16.1 mln tonnes from just under 13 mln tonnes in March 2024.
“Two more investment projects are planned to be completed in 2026 and later, but the exact timing of their implementation has not yet been announced,” the report says.
FAS USDA notes that investments in the processing sector continue amid the expansion of the biofuel market, but industry participants are considering opportunities to increase sales of rapeseed oil and meal to maintain the profitability of the processing plants.
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