Ukraine exported and processed record volumes of rapeseed in 2023/24 MY

Rape Leaves
Canola Seed & Rapeseed
Nuts & Seeds
Market & Price Trends
Published Apr 17, 2024

Tridge summary

In the 2023/24 marketing year, Ukraine has significantly boosted its exports of rapeseed and rapeseed oil, reaching 3.5 million tonnes and 400 thousand tonnes respectively by April 1, marking a notable increase from the previous year. Despite a slight dip in March, the export pace of rapeseed remains robust. The total exports, including processed products like oil and meal, have surpassed production volumes, totaling 4.4 million tons, thanks to a record processing rate of over 1 million tons. This surge in exports, especially to key markets such as China, the EU, Malaysia, and Singapore, underscores the growing capacity and strategic shift of Ukraine's oil and fat industry towards processing a broader range of products including sunflower, soybeans, and rapeseed.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023/24 MY (as of April 1), Ukraine exported 3.5 mln tonnes of rapeseed (3.4 mln tonnes in the same period of 2022/23 MY) and almost 400 thsd tonnes of rapeseed oil (84 thsd tonnes in 2022/23 MY). Thus, in March, the exports of rapeseed decreased by 91 thsd tonnes to 157 thsd tonnes compared to February, which is 92 thsd tonnes higher than in March 2023. Taking into account that usually the main volumes of rapeseed are exported in the first half of the season, the current pace of supplies is quite high. The ratio of official data on rapeseed production and exports looks interesting. In 2023, the rapeseed harvest amounted to 4.1 mln tons, and exports – 3.5 mln tons. In addition, exports of rapeseed processed into oil and meal amounted to 900 thousand tons, so the total exports of rapeseed reached 4.4 million tons, which exceeds production. There are two explanations ...
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