The General Administration of Customs of the People's Republic of China (GACC) allowed the imports of rapeseed meal from Ukraine, reported Reuters. The decision took effect since December 9, 2019.
As opposed to rapeseed oil, Ukraine has never supplied rapeseed meal to China before. Opening of a new sales market along with cancellation of the VAT refunds to traders in terms of rapeseed exports will contribute to the further growth of domestic processing of the oilseed in Ukraine.
To date, the production and export volumes of rapeseed meal in Ukraine usually do not exceed 200 thsd tonnes per season. Traditionally, the EU region is the main destination of shipments, as well as Ukraine supplies some volumes to the Middle East countries — Israel, Turkey.
In July-November of 2019/20 MY, the exports of Ukrainian rapeseed meal totaled more than 170 thsd tonnes, including 65% of the volumes supplied to the European Union. According to APK-Inform forecasts, in the current season Ukraine will export 187 thsd tonnes of the product.