Source: Oleoscope (Russia)
After a slow start in July, when deep-sea ports focused on barley shipments and high farmer prices delayed the build-up of contracted volumes, Ukrainian rapeseed exports reached full capacity in August, Ukrainian industry agencies report.
Between 1 and 13 August 2024, the country exported 420,400 tons of rapeseed, 49% more than in July. In the whole of August 2023, Ukraine exported 711.3 thousand tons of rapeseed.
The main destination for Ukrainian rapeseed in August was the EU, which imported almost the entire quantity of 413.8 thousand tons.
“The European Commission assumes that the rapeseed harvest in the EU will decrease from 19.7 million tons last year to 18.4 million tons in 2024, which could increase imports of this oilseed into the EU. According to the Commission, the EU imported 443,300 tons of rapeseed in the 2024/25 marketing year between 1 July and 13 August, which is 55% more than in the same period last year,” the analysts said.
Market experts do not rule out that rapeseed exports from Ukraine could reach 0.9 million tons, and if the forecast comes true, this would be a record for this period.
In July, UFOP reported that Ukraine was the EU’s most important rapeseed supplier, with deliveries from the country increasing by 6 percent.
