Ukraine exports a record amount of rapeseed - APK-Inform




Ukrainian production and export of rapeseed in 2022/23 MY became a record. According to opening estimates of APK-Inform, 3.4 million tonnes will be shipped to foreign markets, which is 26% higher than last season. This was announced by Iryna Ozip, marketing director of IA APK-Inform at the international conference "VegOilTrade-2023" in Rotterdam on June 8.
"In the new season, the rapeseed harvest can be collected at least as much as in 2022 - about 3.6 million tonnes, but export has more risks than last year," the speaker emphasized.
At the moment, the APK-Inform forecast for rapeseed exports in 2023/24 MY is optimistic and amounts to about 3.4 million tonnes. However, volumes may be more extended than usual and will depend on a number of factors.
First, the exclusion in the coming months of the main importers of Ukrainian rapeseed (Romania and Poland) due to the ban extension on the export of Ukrainian oilseed to 5 EU countries until mid-September. It noted that 55% of the total rapeseed exports in July-May 2022/23 MY went to Romania, Poland, Slovakia, Hungary, and Bulgaria. But, at the same time, the share of Ukraine increased to 42% in the total import of rapeseed by the European Union.
In addition, expectations of an increase in rapeseed production in the EU as well as falling rapeseed oil prices, and the crisis in the biofuel sector also do not add optimism to the Ukrainian market.
The beginning of the new crop season in Ukraine meets with the next extension of the grain agreement, as a result of which it is expected to increase the load in the direction of the Danube ports and the western borders and, as a result, an increase in shipment terms.