Record world OSR harvest for 98

By FWi staff

RECORD world rapeseed harvests have been forecast for 1998, with an estimated crop of 36.6 million tonnes.

The prediction, which represents a crop 10% larger than last season, was made by the German industry newsletter Oilworld. It includes large increases in Canada, Australia, Eastern Europe and the European Union.

UK delivered rapeseed prices fell by £2/tonne last week for September delivery. The Home-Grown Cereals Authority blamed the fall on weaker Chicago soya prices and the strength of Sterling.

But the continued reluctance of producers to sell seed caused supply shortages and the drop in prices was short-lived. Ex-farm payments soon recovered to an average of £150/t, highlighting the shortage of seed available for immediate delivery.