Ukrainian rapeseed exports reoriented to the western borders

Ukraine exported over 430,000 tons of rapeseed in the first half of July. This is reported by Spike Brokers.

The main buyers were Germany, Belgium, the Netherlands, France and the Czech Republic.

It is noted that the rapeseed complex received strong support from the rapid growth of MATIF (August: 544.00€ (+27.50€), which this week was determined primarily by geopolitical risks in the Black Sea region and the general strengthening of the vegetable oil complex. At the same time, the active arrival of the new crop in Europe continues to provide sufficient physical supply.

“In Ukraine, the market is rapidly reorienting to alternative export routes. Due to the decrease in activity in seaports, the main demand is concentrated on the western border, where FCA Chop prices rose to $590 per week. In the direction of ports, quotes remain practically unchanged, while internal processing significantly adjusted purchase prices due to uncertainty with the sale of finished products,” the analysts noted.

Last week’s prices were at the following level:

• SPIKE CPT Odesa: $560 (+$2);
• SPIKE FCA Chop: $590 (+$25);
• SPIKE CPT plant: $560 (-$28);
• MATIF August: €544 (+€27.50);
• FOB Netherlands, rapeseed oil (August): €1305 (+€120).

Tags: export, rapeseed