EU reduces exports of rapeseed oil

Published Sep 25, 2020

Tridge summary

EU countries have seen a decrease in rapeseed oil exports from the CIS countries, despite an increase in imports. The decrease is due to a rise in domestic demand and a decrease in domestic supply. As a result, the EU has become a net importer of the product since July-September. From the start of the 2020/21 marketing year (July 1 - September 20), EU countries have imported 77.5 thousand tons of rapeseed oil, a 30% increase, while exports have increased by 74% to 73.6 thousand tons.

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

Original content

According to Oil World estimates, if in July the export of rapeseed oil was estimated at 47 thousand tons versus 17 thousand tons in the same period last year, in the past few weeks the volume of weekly shipments has decreased to about 4 thousand tons. At the same time, the EU countries began to increase imports of this product, mainly from the CIS countries, which is why in July-September the EU is a net importer of rapeseed oil. It is also noted that the normalization of demand for the product in the EU from the biofuel industry, combined with a seasonal decrease in the domestic supply of rapeseed, leads to a decrease in the export potential of European rapeseed oil, and also contributes to an increase in its imports. According to ...

Source: Dairy