Consumption of rapeseed meal in the EU has set a new record

Published 2024년 4월 9일

Tridge summary

The European Union has witnessed a significant increase in the consumption of rapeseed meal, setting a new record at 14.4 million tons, marking a 16% rise from the previous year. This growth is primarily due to the EU's high import rates of rapeseed meal, which has become more cost-effective compared to other meals like soybean and sunflower meal, thereby reducing their consumption. As a result, rapeseed meal now accounts for 26% of the total meal consumption in the EU, up from 23% in 2022. Despite this increase, demand for rapeseed meal saw a slight decline from January to March 2024 due to a rise in prices. The report highlights that the main suppliers of rapeseed meal to the EU this season are rf, Belarus, and Ukraine.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

European Union countries increased the volume of rapeseed meal consumption at the end of last year to a new record level of 14.4 million tons (+16% to 2022). According to analysts of OilWorld (Germany), this is due to the high rates of imports of this product in the EU in the reporting period against the background of its attractive cost compared to other meal. Against the same background, consumption of soybean and sunflower meal in the EU declined last year, which increased the share of rapeseed meal consumption to 26% compared to 23% in 2022. “However, EU rapeseed meal demand slowed slightly between January and March 2024 amid rising product prices,” the report said. Last month, the average cost of the product in Germany ...

Source: UkrAgroConsult