According to the latest data, Ukraine increased the exports of rapeseed to the EU to 1.5 mln tonnes since the beginning of the season-2024/25 (July-22 September). According to APK-Inform, the increase is 27% higher than the same period last season, due to the high demand of the European importers due to the shortfall of the domestic harvest of the oilseed in 2024.
According to the European Commission, the increase in rapeseed imports to the EU in the first 2.5 months of the new season was up to 40%. The Ukrainian oilseed accounted for 59% of the total imports of the crop by the EU, compared to 49% in the same period in the previous MY.
According to APK-Inform, in addition to the increase in the EU purchases of Ukrainian rapeseed, the stocks of which are rapidly depleted due to the decline in production in the current season, the imports of Australian canola also increased, accounting for one-third of the imported oilseed, compared to 24% in the previous season.
However, in September, the shipments of rapeseed from Ukraine to the EU countries decreased. Thus, within 22 days of the current month, the company shipped about 414 thsd tonnes, down 50% compared to the same period of August and about 3% compared to September 2023.
“One of the reasons for the slowdown in trade is a decline in demand, as most companies are finishing the active season and continue to ship raw materials under existing contracts. Besides, due to the high exports, the free stocks of rapeseed in Ukraine decreased significantly, and many farmers intend to hold the sale of the raw material, hoping to sell some volumes later at more attractive prices,” APK-Inform analysts said.
As of September 22, the total exports of rapeseed from Ukraine reached 1.6 mln tonnes, up 13% compared to the same period last season.
It is worth noting that the winter rapeseed sowing in Ukraine is moving rather slowly due to the moisture deficit, and although the pace accelerated slightly over the last week, as of September 23, the oilseed planted area is still 17% down on the previous year. The September rains did not replenish the moisture reserves sufficiently, which may lead to further decline in rapeseed production in Ukraine in 2025.
Trends and prospects of the oilseeds market in Ukraine and the EU countries in the new season-2024/25 will be discussed at the XXII International Conference Fat&Oil Industry-2024, which will be held on October 30 in Kyiv.
You can register for the conference on APK-Inform website.
