Ukraine exported a record 420 thsd tons of rapeseed oil for 11 months of MY 2023/24

Published 2024년 8월 12일

Tridge summary

During the 2023/24 marketing year ending in June, Ukraine achieved a record export of rapeseed oil, reaching over 420 thousand tonnes, as reported by the Ukroliyaprom association. This growth is evident in major international markets including China, the EU, Malaysia, and Singapore. Notably, Ukraine also processed 1.0 million tons of rapeseed, a first in its history, representing 22.3% of its 2023 harvest. Additionally, the country experienced a surge in soybean oil and meal exports and production, with significant growth in sunflower oil exports, particularly within the first half of 2024 compared to the previous years. Ukroliyaprom is advocating for policy support to further boost the domestic processing of oilseeds like soybeans and rapeseed, aiming to diversify the country's oil and fat industry beyond sunflower seeds.

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Original content

The export of rapeseed oil in July-June of 2023/24 MY reached the record level of over 420 thsd tonnes. This is stated in the message of the association “Ukroliyaprom”. Ukrainian rapeseed oil is confidently entering the markets of China, EU, Malaysia, Singapore and other countries. Positive dynamics is also observed in rapeseed meal. The association also added that for the first time in all years, Ukraine processed 1.0 mln tons of rapeseed (22.3% of the 2023 harvest), despite the fact that rapeseed is considered to be mainly an export-oriented raw material. Exports of soybean oil and meal, as well as their production and processing, continue to grow, especially in January-June 2024. “The growth of domestic processing of rapeseed and soybean seeds, as well as a significant increase in exports of high value-added products, namely oil and meal, confirms the EBA’s position on the need to create conditions for maximum processing of oilseeds at domestic facilities. Further development ...

Source: UkrAgroConsult