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Australian oilseed production, dominated by canola, is expected to be strong again in marketing year (MY) 2022/23, after big crops in MY 2021/22. Canola production is forecast in MY 2022/23 at 4.7 million metric tons (MMT), down from the record-busting crop estimated at 6.35 MMT in MY 2021/22, but if realized would still be the second largest crop in history.
Australian oilseed production in marketing year (MY) 2020/21 is forecast to begin to recover following years of drought-impacted crops.
Australia normally produces around four million MT of oilseed crops each year, with canola and cottonseed accounting for over 90 percent of the total.