The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) released its quarterly report on Monday, forecasting Australia's rapeseed production for the 2026/27 season at 6.181 million tonnes—a 19.5% decrease compared to the previous year.

With Australian rapeseed production projected to decline by 19.5% in 2026/27, the resulting contraction in raw material supply provides cost-side support for rapeseed meal. On June 2, 2026, open interest in the benchmark September 2026 (2609) rapeseed meal futures contract increased by 7,213 lots month-on-month; with futures prices generally trending upward, this development offers a moderately bullish signal for rapeseed meal prices.

As rapeseed serves as the upstream raw material for rapeseed oil, a significant reduction in Australia's rapeseed output will drive up import costs for the crop. This cost pressure will subsequently filter through to the downstream market, providing fundamental cost support for rapeseed oil and offering a moderately bullish boost to rapeseed oil prices.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.