Ukraine. Rapeseed market of 2024/25. Forecast

UkrAgroConsult

Article author:

Svitlana Kupreeva

Oilseed Market Analyst

Officially published rapeseed production in the 2023 – 4.2 M mt  (+26% compared to 2022).

UkrAgroConsult worked out its own estimate of the 2023 rapeseed production based on the size and rates of rapeseed exports and domestic crush.

Exports of rapeseed, rapeseed oil and meal continue to grow at a record pace, even in the last months of the season.

• rapeseeds – 3586.2 K mt (+5% compared to 2022/23), in April – 134.1 K mt;
• rapeseed oil – 406.1 K mt;
• rapeseed meal – 351.9 K mt.

Basing on the collected experience (especially, the 2023/24 rapeseed market mentioned above), UkrAgroConsult makes the following  2024 rapeseed harvest forecast – more than 4 M mt.

Weather remains a key factor in the yields formation. The impact of the cold wave and night frosts on the soil in early May is yet to be assessed. The downward revision of the May rapeseed harvest numbers is possible.

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Tags: Ukraine, rapeseed, rapeseed oil