Ukraine: oilseed flaxseed S&D – growth potential is available

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The 2022/23 flaxseed market summary 

– flaxseed area – 33.1 K ha (+20% compared to 2021/22, the highest for the last five seasons) ,

– yield – 0.86 t/ha (-44% compared to the record 2021/22, the lowest for the last four seasons),

– harvest – 27.5 K mt (-34% compared to 2021/22)

– the growth of the sown area was offset by a sharp decline in yield.

– in 2022/23 share of exports in the oilseed flax harvest decreased to 44% compared to 83% a year earlier in favour of Kazakhstan (2022/23 exports was by 31% higher to flax exports in September-May 2021/22) and Russia (+7% to flax exports in September-May 2021/22 as 20% export tax was cancelled in Russia).

Forecats of the 2023/24 season

– in the 2023/24, the area of oilseeds will be expanded due to their higher profitability compared to grains, oilseed flax is no exception, however remaining a niche crop:

– the planted area may increase to the record for the last 6 years

– current weather give grounds to expect the yield above the average for the last three years

– flax harvest is expected at 40-41 K mt.

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Further development of grain and oilseed market in Ukraine and globally will be discussed at the International Conference ‘BLACK SEA GRAIN & OIL. THE WAY TO RECOVERY’ on September 14 in Kyiv. Join agribusiness professionals to discuss forecasts for the new 2023/24 season, prospects for investments, processing, logistics and exports for the recovery and development of Ukrainian agricultural sector.

Tags: Ukraine, export, supply and demand balance, crop forecast