Rapeseed prices at Ukrainian ports rise by $20/t in a week

Rapeseed prices at Ukrainian ports rose by $20/t last week, supported by a stronger European market and increased export activity. Meanwhile, prices at Ukraine’s western border gained only $5/t, while the processors’ purchasing price index declined by $5/t, according to Spike Brokers.

The market was also supported by higher European prices. The November rapeseed futures contract on MATIF gained around 1.5% over the week. In Ukraine, the strongest price increase was recorded on a CPT port basis.

Ukraine’s rapeseed exports accelerated sharply in August. From August 1 to 27, the country shipped 255.2 thsd tons of rapeseed, compared with just 11.8 thsd tons during the same period in July — a 21.6-fold increase. Rapeseed oil exports rose 4.6 times, from 15.2 thsd tons to 69.4 thsd tons.

EU countries remained the main buyers of Ukrainian rapeseed. Germany imported 109.2 thsd tons in August, the Netherlands 84.3 thsd tons, and the Czech Republic 25.1 thsd tons. Together, these three countries accounted for around 86% of Ukraine’s rapeseed exports during the reporting period.

Rapeseed oil exports were more diversified. The largest volumes went to Poland at 18.7 thsd tons, the Netherlands at 17.8 thsd tons, Germany at 12 thsd tons, Italy at 7.2 thsd tons, and Hungary at 7 thsd tons. Combined exports of rapeseed and rapeseed oil reached around 324.6 thsd tons in August, compared with 27.1 thsd tons during the same period in July.

Tags: Ukraine, prices, rapeseed