Development of the oil and fat industry of Ukraine

Published 2024년 4월 15일

Tridge summary

Ukraine's agricultural sector has seen a significant shift with 1 million tons of its 2023 rapeseed harvest, or 23.3%, being processed domestically for the first time, moving away from its traditional export focus. This change comes as a result of decreased sunflower seed exports, leading to an increase in the domestic processing of rapeseed and subsequently higher production and exports of value-added products like rapeseed oil and meal. Rapeseed oil exports reached a record 400,000 tons from July 2023 to March 2024, with major markets in China, the EU, Malaysia, and Singapore. According to a report from 'Ukroliyaprom', there's also a positive trend in the exports and production of rapeseed meal, soybean oil, and meal, indicating a strategic shift towards more diversified oil crop processing. The forecast for the 2024/25 marketing year shows mixed expectations for oilseed production, with potential increases in soybeans, decreases in rapeseed, and stable sunflower seed production.

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

Original content

For the first time in all years, 1 million tons of rapeseed were processed in Ukraine (23.3% of the 2023 harvest), and this is despite the fact that rapeseed is considered mainly an export-oriented agricultural raw material. This is reported in "Ukroliyaprom". A significant reduction in the export of sunflower seeds contributes to the increase of domestic processing of this agricultural raw material and the increase of production and export of products with a high added value. "The export of rapeseed oil in July-March 2023/24 MR reached a record mark of 400,000 tons. Rape oil confidently enters the markets of China, EU countries, Malaysia, Singapore and other countries of the world. Positive dynamics are also observed in rapeseed meal. Continuation of growth in the export of soybean oil and meal, and, accordingly, their production and processing, especially in January-March 2024," the report says. The Association envisages the further development of the oil and fat industry of ...

Source: Elevatorist