Ukraine. Rapeseed exports on the rise, rapeseed oil exports falling

UkrAgroConsult

Article author:

Svitlana Kupreeva

Oilseed Market Analyst

In MY 2022/23 Ukraine harvested 3.2 M mt of rapeseed, which is 5.5% more compared to the previous year.

Despite the initial expectations, trade activity in the first five months of the season made it possible to realize more than 96% of the export potential of the rapeseed market. The pace of exports remained high until November, when the record for the reporting month was broken – more than 500 K mt were shipped.

The action of the “grain corridor” made it possible to export almost 2.9 M mt of rapeseed. The export of rapeseed oil and rapeseed meal decreased significantly.

Despite difficult weather conditions, low moisture reserves, as well as a reduction in the potential sowing area due to the occupied and front-line part of Ukraine, winter rapeseed was sown on an area of about 1 million hectares. In addition, UkrAgroConsult expects an increase in planting of rapeseed. Under such conditions, Ukraine can potentially harvest at least 3 M mt of rapeseed.

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Tags: Ukraine, export, rapeseed, supply and demand balances, crop condition, rapeseed oil, sowing, crop forecast