EU increased its imports of rapeseed meal due to increased supplies from Russia and Belarus

During the first 8 months of 2023/24, the EU Ministry of Agriculture, against the background of attractive price levels, increased the import of rapeseed meal (especially from the Russian Federation) by 16% to 681.5 thousand tons, which is 95.6 thousand tons higher than the corresponding indicator of the previous season. Own processing of rapeseed does not satisfy the needs within the EU, so it is necessary to import rapeseed meal from third countries. At the same time, the import of meal from the Russian Federation increased in comparison with the previous season by 11% to 281.83 thousand tons, which is 41% of the total volume of imports. Another 208.2 thousand tons of meal were delivered from Belarus, which became the second largest supplier of rapeseed meal to the EU. Against the background of the European Commission’s intention to increase the import duty on oil crops and their processing products in order to avoid destabilization of the European market, prices for meal in ...