Australian rapeseed 2022/23 output forecast at 5.2 mn: AOF

Australian canola production for the 2022/23 marketing year is expected to reach 5.2 million mt, declining 17% from the record 2021/22 harvest, according to the latest estimates from the Australian Oilseed Federation (AOF).

The reduction in annual output for the oilseed, which is often referred to as rapeseed in European markets, represents a return to more normal production levels following on the exceptional 2021/22 harvest which the Federation estimates at 6.3 million mt.

According to the AOF, expectations for the 2022/23 harvest are support by an estimated 12% year-on-year increase in canola area planted.

Conditions have been mostly favourable so far in the season with timely rainfall across most planting areas of New South Wales, Victoria and Western Australia over the first three months of 2022.

Despite instances of saturated paddocks and winter waterlogging across areas of New South Wales and Victoria, favourable conditions are expected to persist across the east coast through the remainder of the season.

“Across the east coast, favourable seasonal conditions may continue into mid- to late- winter, with a weakening La Nina persisting longer than previously forecast,” the AOF said.

In contrast, South Australia remains dry with recent rains falling outside dedicated canola growing areas.

On the whole, crop expectations remain positive given the mostly favourable growing conditions coupled with the increase in growing area.

Amid expectations of a stronger Canadian canola harvest this year, the Australian Oilseed Federation is forecasting the gross value of Australian canola production for the 2022-23 to reach $3.5 billion, the second-highest figure on record.