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Oilseeds to see significant shrinking as restrictions and low prices bite

Experts believe restrictions on oilseed rape cropping may have contributed to the reducing acreage


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Oilseed planting surveys show a 14 per cent decline for harvest 2016
Oilseed planting surveys show a 14 per cent decline for harvest 2016

The domestic oilseeds market is set to shrink significantly over the next year due to poor market returns and growing risks.

 

The Association of Independent Crop Consultants (AICC)/Andersons Early-Bird Survey (EBS) of planting shows a 14 per cent decline in oilseed rape for harvest in 2016.

 

This follows Farmers Guardian reports in August the UK was likely to see a decline in oilseed rape over the coming months with exchange rate woes and cropping restrictions meaning margins were likely to be slim.

 

This week Jack Watts, lead analyst at AHDB Cereals and Oilseeds said: "Oilseed rape is high cost, high risk and low reward."

 

"There is naturally an element of crop failure in OSR and there is less enthusiasm [to grow] it."

 

Mr Watts agreed oilseed rape farmers’ access to crop protection products, an ongoing issue, may have contributed to the shrinking area. He added the crop’s price outlook for the coming months was not good.

 

"We have a continuing declining soya price," he said. "Production continues to grow and there is a big South American crop coming online in 2016."

 

Last Friday, MATIF oilseed futures closed at an almost identical price to last year, down £3.45 from the same point last year to £263.38/tonne.


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