Source: Oleoscope (Russia)
In the 2023/2024 season, the global rapeseed processing volume reached a record level of 77.2 million tons, 0.6 million tons more than in the previous season. At the beginning of the 2024/2025 season, rapeseed prices in Constanta, Romania’s largest seaport, increased significantly, reaching an average of 440-450 EUR/ton compared to 400-405 EUR/ton at the beginning of the previous season, reports Agroexpert.
“This increase was influenced not only by the dry weather conditions, but also by higher oil prices caused by the conflicts in the Middle East and the shutdown of production in Libya’s largest oil field. In terms of global refining volumes, the increase in the European Union was particularly notable at 25.28 million tons, with significant growth in Germany and Poland, while France recorded a decline. The Republic of Moldova declared itself the third largest exporter of rapeseed to the EU, consolidating its position in the market,” says Iurie Ria, Moldovan agricultural market expert.
In Ukraine, rapeseed exports in July 2024 exceeded the previous year’s figures, increasing by 15 % to 278 thousand tons. According to Iurie Ria, this increase is due to the early start of the harvest and high demand, which was fueled by attractive prices.
“However, given the pessimistic forecasts and the downward revision of Ukrainian and EU rapeseed production for 2024, many producers without sales contracts prefer to wait to sell rapeseed. On August 1, Ukrainian rapeseed prices were at 400-415 USD/ton at DAP Izmail/Reni terms, compared to 340-360 USD/ton in the same period last year,” he said.
The Ukrainian rapeseed market remains dynamic, with intense competition between exporters and processors, reflecting the volatility and complexity of the sector.
Rapeseed prices in Moldova vary by region, ranging from 8600-8700 lei/ton including VAT in the northern part of the country to 9000 lei/ton in the port region of Giurgiulesti.
“Compared to the previous season, prices have increased significantly, namely by 2000-2500 lei/ton. In August 2023, for example, rapeseed prices started at 6100-6200 lei/ton, with the highest price in Giurgiulesti reaching 7000 lei/ton. However, under the conditions of high prices, the number of active traders decreased and the lower demand led farmers to sell rapeseed at lower prices from time to time,” the expert adds.