Ukraine has already exported 80% of the forecasted volume of rapeseed
The export of Ukrainian rapeseed decreased for the third consecutive month amid the seasonal depletion of stocks due to the low harvest in 2024. In November, the export decreased by 31% to 327 thsd tonnes compared to October.
In general, in MY 2024/25 Ukraine exported 2.6 mln tonnes of rapeseed, the third largest volume after the record figures of MY 2019/20 and MY 2022/23. According to analysts, the export potential of rapeseed is already 79% exhausted.
In the December report, the USDA experts raised the forecast of rapeseed exports from Ukraine by 0.15 mln tonnes to 3.37 mln tonnes due to the decrease of domestic processing.
The main buyers of Ukrainian rapeseed in MY 2024/25 remained the EU countries, where the country supplied 2.43 mln tonnes of the crop, up 13% compared to the previous season. Compared to MY 2023/24, the EU share in the domestic exports increased from 90% to 92%, while the share of Ukrainian rapeseed in the total EU imports increased from 64% to 71%. However, it will continue to decline amid a seasonal increase in canola supplies to the EU from Canada and Australia.
At the same time, the number of countries that bought Ukrainian rapeseed in MY 2024/25 decreased from 36 to 27 compared to the same period of the previous season.
According to the European Commission, in MY 2024/25 (as of December 8), the EU increased the imports of rapeseed by 3% to 2.6 mln tonnes compared to the same period of the previous season, of which 1.8 mln tonnes were supplied from Ukraine, 474 thsd tonnes – from Australia and 113 thsd tonnes – from Canada.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
Join with the EARLY RATE – 22 International Conference BLACK SEA GRAIN.EUROP...
Australia increased wheat exports by 20% in October
Palm oil prices fell by 5.4% despite lower forecasts for production, exports and s...
Ukrainian ports handled over 90 mln tons of cargo since the beginning of the year
Indonesia wheat, rice imports forecast to fall
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon