Changes in the oilseed market after the EU bans on russian imports

UkrAgroConsult

Article author:

Svitlana Kupreeva

Oilseed Market Analyst

Starting July 1, the EU will impose prohibitive tariffs (up to Euro95/mt) on imports from russia and Belarus of certain goods, including sunflower seeds, wheat, corn, dried peas and derivatives, and feed products. In addition, tariffs on all other food products from russia and Belarus are also possible.

The EU imports mainly rapeseed and sunflower meal from russia.

Each side is forced to look for alternative suppliers of meal (EU) and markets (russia).

russia’s meals exports to the EU is of a significant share of total exports: sunflower meal – 42%, soybean meal – 37%, rapeseed meal – 65%.

The EU ban could be a factor in supporting prices in European markets and, conversely, reducing domestic prices in russia.

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Tags: prices, soybean meal, Belarus, sunflower meal, restrictions, rapeseed meal, Russia, EU