Russia expects a record rapeseed harvest this year

Russia's rapeseed harvest is projected to reach a record 5 million tons in 2024, with 2 million tons coming from the Siberian Federal District, particularly the Krasnoyarsk Territory. Despite high export duties, some rapeseed will be exported. However, high world prices and regulatory restrictions may impact the domestic market. The subcommittee has approved a 30% duty on rapeseed exports from September 2024 to August 2026.

The rapeseed harvest in Russia (excluding new territories) in 2024 will reach a record 5 million tons. This was announced by Vladimir Petrychenko, CEO of the analytical company Prozerno, during the Grain of Siberia forum, TASS reports. “Overall, 5 million tons is another rapeseed record. There are good prospects for oil flax. This will not be the record of the year before last, but somewhere around 1.6 million tons will be harvested in Russia,” Petrychenko said. According to him, 2 million tons of rapeseed will be harvested in the Siberian Federal District, including about 500 thousand tons in the Krasnoyarsk Territory. According to the Ministry of Agriculture, the rapeseed harvest in Russia in 2023 amounted to 4.2 million tons. The Institute for Agricultural Market Studies (IKAR) estimates the rapeseed harvest this year at 4.99 million tons. According to IKAR CEO Dmitry Rylko, despite the high export duty on rapeseed, some volumes will still be exported. The domestic market ...