Purchasing prices for rapeseed in Ukraine are increasing

Published Dec 13, 2023

Tridge summary

Exports of Ukrainian rapeseed through Black Sea ports are increasing, leading to growing demand from exporters and higher prices, with 3.3-3.5 million tons planned for export out of 4 million tons harvested. Ukrainian rapeseed oil exports have also increased, equivalent to 700 thousand tons of rapeseed. European processors are encouraged to help unblock borders to obtain cheap raw materials, as EU countries have reduced rapeseed imports by 25% compared to the previous season, with 66% of imports supplied from Ukraine.

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

Original content

Demand for Ukrainian rapeseed from exporters continues to grow amid increasing exports through Black Sea ports and steps to unblock the border with Poland. In Ukraine, prices for rapeseed increased to 365-375 $/t or 15,000-15,500 UAH/t with delivery to the Black Sea ports, which corresponds to the level of September, while demand prices for supplies to the Czech Republic and Germany increased to 410-420 €/t . Ukraine in November reduced the export of rapeseed compared to October by 100 thousand tons to 337 thousand tons, and in total in 2023/24 MY it exported almost 2.4 million tons (2.8 million tons for the same period last year ). In 2023, domestic farmers harvested 4 million tons of rapeseed, of which 700-800 thousand tons are planned to be processed, and the remaining 3.3-3.5 million tons are to be exported. The volumes of processing and export of processed products also increased. Thus, in MY 2022/23, Ukraine exported 84 thousand tons of rapeseed oil, and in 5 months of MY ...

Source: Oilworld