Should Bulgaria restrict rapeseed imports from Ukraine?

Published 2023년 5월 2일

Tridge summary

Bulgaria's 2022 rapeseed harvest saw a significant decrease of 22% compared to the previous year, despite a 4% increase in planted area. This decline, coupled with a drop in exports, was partially balanced by an uptick in imports. To further impact the sector, Bulgaria imposed a ban on Ukrainian rapeseed imports from April 24 to June 30, though it is expected to have limited influence on the local market in the 2022/23 season. Looking ahead, the 2023/24 rapeseed harvest is projected to recover, growing by 25% due to anticipated restrictions on Ukrainian grain and oilseeds imports. These developments and the implications for the global rapeseed market are discussed in detail in the 'BLACK SEA VEGOIL' Weekly Report by UkrAgroConsult.

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

Original content

Bulgarian gross 2022 rapeseed harvest (-22% compared to 2021). Rapeseed area increased by 4%. Lower yield (-22% y/y) Lower production promoted decline in rapeseed and rapeseed oil exports(July 2022-Jan 2023): Rapeseed imports increase (July 2022-Jan 2023): Bulgaria banned Ukrainian rapeseed imports from April 24 until June 30. Most likely, the imports stop will not influence sufficiently the rapeseed sector of this country in the 2022/23 season. Factors decreasing the ban aftereffect: – rapeseed market traditionally activity slows down in the second half of a season (Jan-June); – harvest decline in 2022 was offset by increasing rapeseed imports; – not only Ukraine but also Belgium expanded the rapeseed exports to Bulgaria; – The EU markets’ factors were decisive for rapeseed prices decline in Bulgaria – the gap between European prices in July-August 2022 (USD728 per mt) and by April 27, 2023 (USD499) was at USD229 per mt. The next season of 2023/24, forecast Bulgarian rapeseed ...

Source: UkrAgroConsult