Changes in the oilseed market after the EU bans on Russian imports

Published 2024년 6월 12일

Tridge summary

Starting July 1, the European Union (EU) will impose significant tariffs on certain imports from Russia and Belarus, including sunflower seeds, wheat, corn, dried peas, feed products, and other food products. The tariffs will range up to Euro95/mt. The EU primarily imports rapeseed and sunflower meal from Russia. This ban could potentially support prices in European markets and decrease domestic prices in Russia. Both countries are now under pressure to find alternative suppliers and markets.

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

Original content

Starting July 1, the EU will impose prohibitive tariffs (up to Euro95/mt) on imports from russia and Belarus of certain goods, including sunflower seeds, wheat, corn, dried peas and derivatives, and feed products. In addition, tariffs on all other food products from russia and Belarus are also possible. The EU imports mainly rapeseed and sunflower meal from russia. Each side is forced to look for alternative suppliers of meal (EU) and markets (russia). russia’s meals exports to the EU is of a significant share of total exports: sunflower meal – 42%, soybean meal – 37%, rapeseed meal – 65%. The EU ban could be a factor in supporting prices in European markets and, conversely, reducing domestic prices in russia. Full version of the article is available to subscribers of the Weekly ‘BLACK SEA & DANUBE OILSEED REPORT’ by ...

Source: UkrAgroConsult