Ukraine. Rapeseed processing this year will not exceed 400 thsd tons

The maximum domestic processing of rapeseed can reach in 2024 is 400 thsd tons, according to the Ukroliyaprom association.

Experts believe that rapeseed that does not meet export parameters will be processed. About a dozen plants have started processing rapeseed, but it will not happen on a large scale. Rapeseed prices are high, and the cost of oil is almost the same as sunflower oil.

“We can already see from the statistics that in August, one million tons of rapeseed will be exported. Or close to it. If this pace continues, there will be no rapeseed left in the country in three months, because we harvested 3.3 mln tons in total. That is, we will reach the pre-war dynamics. Last marketing year, we processed one million tons of rapeseed because logistics were expensive and neighboring countries imposed a ban on imports. It worked for domestic processing,” the association said.

Ukroliyaprom added that there is another factor that will affect the situation with rapeseed. Europe will harvest less of it, and Canada is usually included in October, it grows 20 million tons of canola and also supplies a lot to the EU. Europe imports 7 mln tons on average.

“If we deliver our harvest by October, it means we will ‘slip through’ without entering into fierce competition,” the association says.

Tags: Ukraine, rapeseed, UkrOliyaProm Association