Rapeseed prices in Ukraine fall amid declining global quotations

Price pressure has intensified in Ukraine’s rapeseed market due to falling global quotations and rising logistics costs. Over the past week, domestic rapeseed purchase prices declined to UAH 17,000–18,000/t on an ex-farm basis. Meanwhile, export bids remained at $475–500/t delivered to Danube ports and $500–520/t delivered to terminals near the western border. Rising transportation costs continue to reduce the profitability of export shipments for Ukrainian producers.

The main factor behind the decline in global rapeseed prices was a sharp drop in crude oil quotations amid changing expectations regarding a possible military escalation between the United States and Iran. After reaching $113.4 per barrel, January Brent crude oil futures lost around 8%, falling to $105 per barrel. This increased pressure on vegetable oils and oilseeds used in biofuel production.

On Euronext in Paris, February rapeseed futures fell by 1.7% during the trading session to €546/t, or approximately $612/t. Meanwhile, January canola futures in Winnipeg declined by 0.8% over the past seven days to CAD 788/t ($564/t), losing 5.7% over the month. Uncertainty surrounding imports from Canada and Australia continues to provide some support to the European market. In particular, the Australian canola harvest has not yet begun, while China is actively purchasing supplies from the upcoming crop.

Additional price pressure comes from higher forecast rapeseed stocks in Canada. Agriculture and Agri-Food Canada (AAFC) raised its estimate of 2026/27 ending stocks by 475 thsd tons, or 32%, to 1.979 mln tons, compared with its previous forecast of 1.504 mln tons. The estimate for 2025/26 ending stocks was also increased by 175 thsd tons to 1.9 mln tons. Rising carryover stocks could put additional pressure on canola futures and physical market prices in the coming months.

Despite declining futures quotations, demand for Ukrainian rapeseed remains relatively stable in certain export markets. Bids for truck deliveries to the Romanian port of Constanța stand at $575–580/t, while prices for deliveries to the Czech Republic and Latvia in November–December are quoted at €520–525/t. However, prices for January–February shipments are already declining.

Tags: Ukraine, rapeseed