The EU increased imports of rapeseed meal due to increased supplies from the Russian Federation and Belarus

Published Apr 15, 2024

Tridge summary

In the first 8 months of the 2023/24 period, the EU has seen a 16% increase in rapeseed meal imports, reaching 681.5 thousand tons, with imports from the Russian Federation growing by 11%, making it the top supplier. This rise is due to the EU's need to compensate for its own limited rapeseed processing capabilities and a strategic move towards using more cost-effective rapeseed meal in animal feed, especially for dairy farming, over soybean meal. The European Commission is contemplating higher import duties on oil crops to avoid market disruption. The Union for the Promotion of the Production of Oil and Protein Crops (UFOP) advocates for the expansion of rapeseed cultivation within the EU to decrease dependency on imported feed protein.

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

Original content

During the first 8 months of 2023/24, the EU Ministry of Agriculture, against the background of attractive price levels, increased the import of rapeseed meal (especially from the Russian Federation) by 16% to 681.5 thousand tons, which is 95.6 thousand tons higher than the corresponding indicator of the previous season. Own processing of rapeseed does not satisfy the needs within the EU, so it is necessary to import rapeseed meal from third countries. At the same time, the import of meal from the Russian Federation increased in comparison with the previous season by 11% to 281.83 thousand tons, which is 41% of the total volume of imports. Another 208.2 thousand tons of meal were delivered from Belarus, which became the second largest supplier of rapeseed meal to the EU. Against the background of the European Commission's intention to increase the import duty on oil crops and their processing products in order to avoid destabilization of the European market, prices for meal in ...

Source: Graintrade