China: a ninefold increase in purchases of Ukrainian rape oil
In March 2019, rape oil exports from Ukraine hit a season low of 0.1 KMT against 1.5 KMT in the previous month and 0.2 KMT in March 2018.
In total, 146.7 KMT of rape oil was shipped abroad in July-March 2018/19, or much more than a year earlier (60.7 KMT), but 2.7% below the previous record set in MY 2015/16, reports UkrAgroConsult.
Taking into account this season’s pace of exports and a traditional decline in the crushing volume ahead of the end of MY 2018/19, UkrAgroConsult estimates the rapeseed market’s export potential in MY 2018/19 at 147 KMT, i.e. below its record high.
As before, the rape oil market in the first nine months of the season is shared mostly by the EU (53%) and China (47%), while Malaysia absorbs less than 1% of total exports. As a reminder, an apparent predominance of the EU was observed a year earlier.
Purchases of Ukrainian rape oil by European countries increased by 48% from a year ago, while China boosted imports almost ninefold.
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