Consumption of rapeseed meal in the EU has set a new record

European Union countries increased the volume of rapeseed meal consumption at the end of last year to a new record level of 14.4 million tons (+16% to 2022). According to analysts of OilWorld (Germany), this is due to the high rates of imports of this product in the EU in the reporting period against the background of its attractive cost compared to other meal.

Against the same background, consumption of soybean and sunflower meal in the EU declined last year, which increased the share of rapeseed meal consumption to 26% compared to 23% in 2022.

“However, EU rapeseed meal demand slowed slightly between January and March 2024 amid rising product prices,” the report said.

Last month, the average cost of the product in Germany strengthened, while Argentine soybean meal fell to its lowest level since September 2020.

Note that the largest suppliers of rapeseed meal to the EU this season are rf (281.8 thousand tons), Belarus (208.2 thousand tons) and Ukraine (143.5 thousand tons).

Tags: EU