Rapeseed prices in Ukraine have reached their highest levels in the season, but large traders are completing purchases, which reduces export demand and quotes

The 35% increase in oil prices since the start of the war with Iran has not led to a significant increase in rapeseed prices, as biodiesel producers have not experienced increased demand for biofuel, which accounts for 10-15% of the cost of fuel.

In Ukraine, the 2025/26 export season is coming to an end, as small residues will not allow collecting a shipload, so large international companies have closed their purchasing programs, and only a few traders are buying rapeseed for delivery by May 1.

Last week, export prices for rapeseed reached their highest levels this season at $570-580/t or UAH 26,500-27,000/t with delivery to Black Sea ports, as a result of which processors were forced to raise prices to UAH 24,500-25,500/t with delivery to the factory.

Prices for rapeseed oil delivered to the EU rose only to $1,300-1,320/t, which corresponds to $1,200/t delivered to the port or the western border.

This week, rapeseed export prices fell to $570/t due to lack of competition and low demand.

May rapeseed futures on the Paris exchange continue to surge in speculative volume a week before their expiration (expires on April 25). Last week, they rose by 3.7% to a season-high of €516.75/t or $609/t (+10.6% since the start of the war), but August futures rose by only 2.6% to €502/t (+6.5% since the start of the war). The quotes are rising despite falling global oil prices and the approaching peace deal with Iran, which will further lower oil prices.

At the same time, prices did not react to the updated forecast of the German Agricultural Cooperatives Association (DRV), according to which the country’s winter rapeseed harvest in 2026 may increase by 4.5% compared to last year to 4.154 million tons.

In the MY 2025/26 (as of April 12), the EU imported only 3.86 million tonnes of rapeseed, of which 36% came from Ukraine, 31.2% from Australia and 15.4% from Canada. At this rate of import, it is unlikely to reach the USDA forecast of 5.7 million tonnes by the end of the season, although last season imports reached a record 7.96 million tonnes.

May canola futures on the Winnipeg exchange traded within 708-710 CAD/t (+2.5% since the start of the war) or $519/t during the week, while November new crop canola futures are trading at 722 CAD/t.

The difference of $90/t with the price in Paris makes Canadian canola supplies to the EU very attractive, especially against the background of the lack of expected increase in demand from China and low export rates.

According to industry data and Statistics Canada reports, from September 1, 2025 to April 1, 2026, canola processing in Canada amounted to about 7.1 – 7.3 million tons (6-8% more than last year) with a forecast of about 12 million tons by the end of the season, and canola exports reached 4.2 – 4.4 million tons out of a forecast of 6.5-7 million tons.

Tags: Ukraine, prices, rapeseed