Source: Oleoscope (Russia)
According to operational data of Ukrainian agricultural analysts, from July to January 2024/25 MY rapeseed oil exports from Ukraine decreased by 48% to 196.6 thousand tons. Nevertheless, this volume was the second largest for this period in the history of the product exports.
The reduction in shipments of rapeseed oil is due to an increase in the cost of rapeseed in the world and in Ukraine, in particular, against the background of reduction of its production in Europe in 2024 and a higher attractiveness of raw material exports compared to processing at Ukrainian plants, analysts say.
Despite the reduction in shipments, Ukraine remained one of the main suppliers of rapeseed oil to the EU. In this direction, the country shipped almost 143 thousand tons (-32% to 2023/24 MY), or 73% of the total volume (55% in 2023/24 MY).
According to the European Commission, the EU imported a total of 140.9 thousand tons of rapeseed oil in the current season (from July to February 11) against about 261 thousand tons in the same period of the previous season, of which 63% was the Ukrainian product (38% last season). Another 20% of oil from the UK and 7% each from Serbia and Canada.
Last season, the top three suppliers of rapeseed oil to the EU were Ukraine (38%), the UK (21%) and Belarus (19%).