The export potential of rapeseed in 2023/24 MR has been increased to 3.55 million tons

Published Apr 18, 2024

Tridge summary

In the 2023/24 marketing year, Ukraine has achieved a new milestone by exporting a record 3.452 million tons of rapeseed, a 1.6% increase from the previous year, with expectations to reach 3.55 million tons. The European Union's sustained demand has contributed to this achievement, highlighted by a record monthly export of nearly 157,000 tons in March. The country's rapeseed harvest forecast has been revised to nearly 4.6 million tons, with domestic processing set to surpass 1 million tons. Exports of rapeseed oil and meal are anticipated to hit 440,000 tons and 375,000 tons, respectively, with China, Malaysia, Singapore, Israel, and Vietnam as key importers. Looking ahead, the forecast for the next season's rapeseed harvest is optimistic at 4.2 million tons, thanks to favorable weather and healthy winter crops. Ukraine is also on track to collect a total of 74 million tons of grain and oil crops in 2024.

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

Original content

In the nine months of 2023/24 MR, 3.452 million tons of rapeseed were exported, which is a record figure and is 1.6% ahead of the previous maximum of last year. The export potential of 2023/24 MR has currently been increased to 3.55 million tons. There is still demand from the EU countries on the rapeseed market. This is reported on the Facebook page "KVS-UKRAINE" with a link to UkrAgroConsult. Nine months of 2024/25 MR are behind us. In March, the export of rapeseed reached almost 157,000 tons, which became a record for the reporting month. The harvest forecast reached almost 4.6 million tons due to the additional assessment of the sown area and yield. The volume of domestic rapeseed processing, according to current forecasts, will exceed 1 million tons, the export of rapeseed oil – 440,000 tons, and rapeseed meal – 375,000 tons. Almost 400,000 tons of rapeseed oil and about 345,000 tons of rapeseed meal have already been exported since the beginning of the 2023/24 fiscal year. ...

Source: Superagronom