The EU countries has increased import of rapeseed and sunflower seeds, herewith, the main volumes of these crops are supplied from Ukraine, reported APK-Inform analysts with reference to the European Commission data.
In particular, since the beginning of 2022/23 MY (July 1), as of March 12 the EU imported 5.7 mln tonnes of rapeseed, up 57% year-on-year (3.6 mln tonnes). In particular, the import of the oilseed from Ukraine reached 2.86 mln tonnes, and thus Ukrainian product accounts for 50% of the total import.
However, seasonally, the supply of canola to Europe from Australia grows. In 2022/23 MY the country delivered 2.3 mln tonnes of the oilseed (41.2%). It is possible, the Australia will be able to bypass Ukraine and take first place in the supply of canola to the EU.
At the same time, the import of sunflower seed to the European Union, that hit a record of 1.9 mln tonnes (up 438% y-o-y), is provided by Ukraine. In particular, the import of Ukrainian oilseed accounts for 87% of the total (1.66 mln tonnes), which is 95 times higher year-on-year (only 17.5 thsd tonnes in 2021/22 MY). Thus, it can be said that in 2022/23 MY Ukraine is a leading supplier of sunflower seeds to the European Union.
However, this situation is caused by the fact, that Ukraine declined the delivery of sunflower seeds product of processing, namely sunflower oil – to 1 mln tonnes (-13% y-o-y).
We will discuss the current situation on the oilseeds market of the EU and Ukraine during the international conference «VegOil Trade».