Oil World sees strong rise in rapeseed exports

World exports of rapeseed/canola are likely to rise to a record 3.61 million tonnes in January to June 2006, up from 2.34 million tonnes in the same 2005 period, Hamburg-based oilseeds analysts Oil World said.
Low prices are generating demand for rapeseed, but higher rapeseed exports are likely to substitute imports of other vegetable oils, it said.
Canada will be the main winner in the rapeseed export market, it predicted. "Export supplies in east and central Europe are largely exhausted, making primarily Canada and to a lesser extent Australia and the US the dominant suppliers," it said.
Oil World forecasts Canada's January/June 2006 rapeseed exports will rise to 2.62 million tonnes, up from 1.62 million tonnes in the same 2005 period.
Australian rapeseed exports are likely to rise to 700,000 tonnes from 600,000 tonnes, US exports to 170,000 tonnes from 70,000 tonnes.