News

Germany bought the most Ukrainian oil crops in 2023

Ukraine
Market & Price Trends
Published Feb 21, 2024

Tridge summary

Ukrainian agricultural exports, dominated by plant products such as cereals, oil crops, and vegetable oil, saw a 25% decrease in the export value of seeds and fruits of oil crops in 2023, primarily due to a global decline in vegetable oil prices. Despite this, there was an increase in export deliveries of soybean oil and rapeseed oil, with European countries and Asia being the main buyers. In response to a record increase in Ukraine's foreign trade, Prime Minister Denys Shmyhal is set to sign an updated free trade agreement with Canada, and procedures are underway to update trade agreements with the European Free Trade Association. Additionally, a memorandum of understanding has been signed between the Ministry of Agriculture and the Ministry of Food, Agriculture and Fisheries of the Kingdom of Denmark.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The product structure of Ukrainian agricultural exports is traditionally dominated by plant products. The main products in it, in addition to cereals, are oil crops, vegetable oil and their processing products, the press service of the National Research Center "Institute of Agrarian Economy" informs. In 2023, the value of the export of seeds and fruits of oil crops amounted to 2.8 billion dollars. This is 25% less than in 2022, noted the deputy director of the NSC, Academician of the National Academy of Sciences Mykola Pugachev. Quantitative volumes of deliveries of the main product items of this group to foreign markets overall decreased not so significantly. Rape exports in natural terms decreased from 3.1 million tons in 2022 to 3.0 million tons in 2023, while soybean exports, on the contrary, increased by 1.5 million tons to 3.5 million tons. The most the decrease in sunflower exports became noticeable - from 2.8 million tons in 2022 to 0.8 million tons in 2023, the scientist ...
Source: Landlord
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