In 2023/24, European countries will increase the harvest of rapeseed, but will not give up Ukrainian products

Published Jun 7, 2023

Tridge summary

European countries are projected to increase their rapeseed harvest in the 2023/24 season, with France, Germany, Poland, and Romania being the key producers. Despite a partial redirection of rapeseed exports from Ukraine, the largest European producers continue to consume most of the product locally, leading to increased rapeseed stocks in Europe. Ukraine's duty-free trade regime with the EU will continue until June 2024, and the ban on imports to five Eastern European countries will persist until September 15, ensuring continued demand for Ukrainian rapeseed in the EU market.

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

Original content

In 2023/24, European countries will increase their rapeseed harvest, but they will not abandon Ukrainian products. Such a forecast was made by Svitlana Kupreeva, an analyst of the UkrAgroConsult oil market. Thus, according to the May report of the European agency MARS, the forecast of rapeseed yield in Europe in 2023/24 was raised to 3.34 t/ha (3.31 t/ha in the April report, 3.33 t/ha in 2022 ). Rapeseed areas are increasing for the fourth year in a row. The harvest forecast is +3.3% until 2022. "The key producers of rapeseed in Europe — France, Germany, Poland and Romania — are also its largest importers from Ukraine in 2022/23 MY," the expert notes. It is predicted that in 2023, France will harvest 0.7% more rape than in 2022, Germany - by 5.4%, Romania - by 33.6%, Poland is expected to decrease by 7.7%. "In 2022/23 MR, a partial reorientation of rapeseed exports from Ukraine took place — a significant increase in shipments to Romania and Poland due to a decrease in exports to ...

Source: Agravery