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Ukraine: The trends in the rapeseed market in 2022/23 MY were explained by the expert

Updated May 26, 2023
The high yield of rape last season compensated for the loss of acreage due to the war. However, analysts say that it is unlikely that the price of rapeseed will increase this season. Although the ban on rapeseed imports from Ukraine to Eastern European countries did not have a significant negative impact on rapeseed exports in the 2022/23 FY, almost 99% of the export potential was realized in the period from July to March.
FY 2022/23 was not easy for the rapeseed market. If the sowing of winter rapeseed was carried out in peacetime - in the fall of 2021, then harvesting and its implementation took place in wartime, overcoming a huge number of unusual problems. As UkrAgroConsult oil market analyst Svitlana Kupreyeva notes, the record sown area — more than 1.4 million hectares — was reduced before harvesting. And not only due to the traditional losses after the overwintering, which was quite successful, but also due to the Russian occupation of part of the territory of Ukraine. Although the high yield compensated for the losses and the harvest reached a maximum of 3.6 million tons. It is noted that the export season is atypically extended in time, the rate of rapeseed export remains higher than last year, starting from October and ending in May of the current year. There was a partial reorientation of exports to ground logistics. In the geographical structure of exports, the position of EU countries ...
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