Ukraine: Canola, and sunseed weigh on European vegetable oil
Canola Seed & Rapeseed
Sunflower Seed
Ukraine
Published May 12, 2023
Tridge summary
Volume imports of Australian canola and Ukrainian sunflower seed have contributed to a sharp drop in European vegetables oil prices to lows not seen since late 2020, according to analysis from Argus Media. The insights were presented in a webinar last week entitled The Russia-Ukraine conflict’s impact on global agriculture & fertilizer markets, with global editorial manager […]
Original content
Volume imports of Australian canola and Ukrainian sunflower seed have contributed to a sharp drop in European vegetables oil prices to lows not seen since late 2020, according to analysis from Argus Media. The insights were presented in a webinar last week entitled The Russia-Ukraine conflict’s impact on global agriculture & fertilizer markets, with global editorial manager agriculture Jade Delafraye speaking on grains and oilseeds. Ms Delafraye said in light of the Russia-Ukraine conflict, the most dramatic price declines have been seen in vegoil markets, with Australia a contributor because of its “very strong” canola crop. Australian Bureau of Statistics data indicates Australia exported a record 3.4 million tonnes (Mt) of canola in the six months to March 31, the first half of its marketing year. This is up 28 percent from the record 2.66Mt shipped in the corresponding 2021-22 period, with Europe the major destination in both cases. Crushing of the EU’s own oilseeds, as well ...
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