
U.S. - Rape Or Colza Seed - Market Analysis, Forecast, Size, Trends and Insights
U.S. Rape Seed Prices to Spike 74% to Over $320 per Ton in 2022
IndexBox has just published a new report: 'U.S. - Rape Or Colza Seed - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
This year, the average rape seed price in the U.S. is forecast to pick up 74% y/y to a record $320 per ton owing to reducing supply. Unfavourable weather in North Dakota adversely affected yields, decreasing the total rape seed output.
The average rape seed price in the U.S. is forecast to skyrocket from $184 per ton in 2021 to a record $320 per ton due to lower supply. Although the area under canola was expanded by 328K acres to 2.15M acres, poor weather in North Dakota led to yields reducing sharply last year. Dakota's production accounts for 85% of total American rape output.
An expected decrease in rape imports to the U.S. will be another driver of the price growth. Much like in North Dakota, Canadian farmers saw poor yields and produced a record-low canola seed volume. This eventually will make Canada, which shapes 92% of U.S. rape seed imports, reduce exports to the country. Suppliers from Ukraine and the EU will likely expand their canola shipments to the U.S., filling the gap after reduced availability in North America.
U.S. Rape and Colza Seed Imports
In 2020, the amount of rape or colza seed imported into the U.S. expanded rapidly to 567K tons, with an increase of 12% compared with the year before. In value terms, supplies rose to $254M (IndexBox estimates).
Canada (524K tons) was the leading supplier of rape and colza seed to the U.S., with a 92% share of total imports. Moreover, rape and colza seed imports from Canada exceeded the figures recorded by the second-largest supplier, Argentina (25K tons), more than tenfold.
In value terms, Canada ($226M) constituted the most significant rape and colza seed supplier to the U.S., comprising 89% of total imports. The second position in the ranking was occupied by Argentina ($13M), with a 5.3% share of total imports.
Top Rape and Colza Seed Suppliers Worldwide
Global exports of rape or colza seeds amounted to 25M tons in 2020.In value terms, supplies totalled $11.1B.
Canada was the largest exporter of rape or colza seed globally, with the volume of supplies recording 12M tons, which was approx. 47% of total exports in 2020. Ukraine (2.4M tons) took a 9.5% share (based on tons) of total exports, which put it in second place, followed by the Netherlands (7.8%) and Australia (6.7%). France (1,060K tons), Belgium (946K tons), Hungary (714K tons), Lithuania (675K tons), Russia (647K tons), Romania (542K tons), Latvia (501K tons) and Poland (410K tons) took a little share of total exports.
In value terms, Canada ($4.7B) remains the most significant rape and colza seed supplier worldwide, comprising 42% of global supplies. The second position in the ranking was occupied by Ukraine ($1B), with a 9.1% share of total exports. It was followed by the Netherlands, with a 7.9% share.
This report provides an in-depth analysis of the market for rape and colza seed in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
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