EU countries significantly reduced imports of rapeseed, sunseed and corn in 2023/24 MY

The European Commission has released the final data on imports and exports in 2023/24 MY, according to which the EU countries significantly reduced imports of rapeseed, sunflower and corn, but increased imports of sunflower oil.

According to ATREA BROKERS, in 2023/24 MY compared to the previous season, the imports to the EU of the following crops

• sunseed – decreased by 65% from 2.2 mln tonnes to 767 thsd tonnes (423 thsd tonnes were supplied from Moldova, 226 thsd tonnes – from Ukraine, 52 thsd tonnes – from China, 29 thsd tonnes – from Turkey and 11 thsd tonnes – from the US),
• rapeseed – decreased by 24% from 7.4 to 5.6 million tons (including 3.1 million tons from Ukraine, 1.8 million tons from Australia, 248 thousand tons from Moldova, 135 thousand tons from Serbia, 120 thousand tons from Canada),
• corn – decreased by 27% from 26.4 to 19.3 mln tons (13.3 mln tons of which were supplied from Ukraine, 2.9 mln tons – from Brazil, 1.2 mln tons – from Canada),
• soybeans – remained at the level of 13.07 million tons (including 5.9 million tons from Brazil, 5.3 million tons from the United States, 956 thousand tons from Ukraine, 553 thousand tons from Canada, 130 thousand tons from Uruguay),
• soybean meal – decreased by 2% to 15.7 mln tonnes (9.1 mln tonnes of which were delivered from Brazil, 3.7 mln tonnes – from Argentina, 952 thsd tonnes – from the USA, 527 thsd tonnes – from Ukraine, 487 thsd tonnes – from Paraguay),
• soybean oil – remained at the level of 518 (515) thsd tonnes (212 thsd tonnes were supplied from Ukraine, 134 thsd tonnes – from Argentina, 68 thsd tonnes – from Norway),
  sunflower oil – increased from 1.7 to 2.8 mln tons (of which 2.7 mln tons were supplied from Ukraine, 80.5 thsd tonnes from Serbia and 43 thsd tonnes from Moldova).

In 2023/24 MY, the EU exported 31 mln tonnes of wheat (31.6 mln tonnes in 2022/23 MY), including 4.28 mln tonnes to Morocco, 3.4 mln tonnes to Nigeria, 2.9 mln tonnes to Algeria, 2 mln tonnes to China and 1.5 mln tonnes to Egypt.

It should be noted that the EU remains the main market for Ukrainian agricultural products, and in the new season we can expect an increase in supplies of sunflower oil, rapeseed and corn in this direction.

Tags: sunflower oil, soybean oil, EU, sunseed, rapeseed, imports