How is the situation around Ukrainian rapeseed developing in the new season?

Published 2023년 6월 8일

Tridge summary

The European Union (EU) has increased its rapeseed yield forecast for the 2023/24 marketing year to 3.34 tons per hectare, up from 3.31 tons in the April report. This is due to an increase in the rapeseed area for the fourth year in a row. However, the new EU policy to ban agricultural imports from Ukraine, including rapeseed, could impact trade. In the 2022/23 marketing year, there was a partial reorientation of rapeseed exports from Ukraine, with an increase in shipments to Romania and Poland, and a decrease in exports to Germany, Belgium, and France. This led to an increase in rapeseed stocks in Europe by the beginning of the 2023/24 marketing year. The duty-free trade between Ukraine and the EU has been extended until June 2024, but the ban on rapeseed imports to five Eastern European countries has also been extended, raising concerns about protecting the European internal market.

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

Original content

The approach of the new season, the uncertainty in the work of the grain corridor and the further EU policy to ban the import of agricultural products from Ukraine makes us once again return to the topic of the rapeseed market and the prospects for 2023/24 MY. EU countries – according to the May report of the European agency MARS, the forecast for rapeseed yield in Europe in 2023/24 MY was increased to 3.34 t/ha (3.31 t/ha in the April report, 3.33 t/ha in 2022) – rapeseed area increased for the fourth year in a row — rapeseed harvest forecast +3.3% by 2022. — key rapeseed producers in Europe – France, Germany, Poland and Romania are also the largest importers of rapeseed from Ukraine in MY 2022/23. — rapeseed crop forecast in 2023 in these countries: — in 2022/23 MY there was a partial reorientation of rapeseed exports from Ukraine — a significant increase in shipments to Romania and Poland, with a decrease in exports to Germany, Belgium and France – this situation did not lead ...

Source: Oilworld