Ukraine. First half of the rapeseed season left behind. Focus put on winter rape
In the rapeseed market, the active period of the season is drawing to a close – export shipments traditionally decrease, but December rapeseed exports from Ukraine hit the highest since MY 2010/11, UkrAgroConsult reports.
As this season’s rapeseed crop dropped to 2.7 МMT, exports are still more than 20% behind last marketing year.
Rapeseed exports in the last two months have been relatively high for this time of season, causing stocks of the commodity to further deplete. So, rapeseed inventories as of December 1, 2020 were down 24% y-o-y.
The rapeseed crush decline adversely affected rape oil and meal exports. Their volumes slumped to three-year lows.
The 2021/22 outlook for Ukraine’s rapeseed market is still favorable. During the temperature drop in early January, the risk to winter rape was offset by snow cover in the fields.
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