Generic Hero BannerGeneric Hero Banner
Últimas notícias do mercado

Ukraine crushes record rapeseed volume in 2023-24

  • Mercados: Agriculture
  • 04/10/23

Ukraine processed a record volume of rapeseed in the first three months of the 2023-24 marketing year (July-June), following a record crop and reflecting limited export options for oilseed and strong demand for rapeseed by-products.

Ukraine harvested a record 4mn t of rapeseed for the 2023-24 marketing year, up from 3.6mn t a year ago, the agriculture ministry says.

Ukraine used to export over 95pc of its rapeseed crop, with EU countries the biggest buyers. But this marketing year, five EU neighbours — Bulgaria, Hungary, Poland, Romania and Slovakia — have imposed restrictions of Ukrainian imports.

Ukraine supplied 602,000t of rapeseed to the five for transit in July-September, down from 1.09mn t a year earlier, with Romania receiving 99pc of this, custom data show. Ukraine's overall rapeseed exports totalled 1.61mn t, down from 1.66mn t.

Crushing hits record highs

Limited export capacity has spurred rapeseed crushing in Ukraine, supported by strong export demand for rapeseed by-products meal and oil, which are not subject to EU import restrictions and are pricing competitively.

Ukraine exported 223,000t of rapeseed oil (RSO) and 252,000t of rapeseed meal (RSM) in July-September, up from 84,200t and 88,100t, respectively, in the whole 2022-23 (see charts).

Based on RSO exports and an RSO-to-RSM production ratio of 40:56, Ukraine is already likely to have crushed up to 550,000t of the 2023 rapeseed crop (see chart). This is already higher than 2019-20's confirmed record of 450,000t and well above last season's 183,000t, according to the US Department of Agriculture (USDA). It is also above USDA's 525,000t projection for this season.

Rapeseed crushing is likely to slow from October, with most crushers switching to new-crop SFS processing.

Poland — a major buyer of Ukrainian RSM — restricted imports from 16 September. Poland received 144,000t of Ukrainian RSM in July-September, or 57pc of overall exports. As of 4 October, about 900 railcars loaded with RSM were stuck at the Ukraine-Poland border, according to market participants.

Poland could rescind these restrictions after coming to an agreement over licensing and quotas for Ukrainian corn, rapeseed, SFS and wheat imports. Until then, the Polish restrictions will probably limit rapeseed crushing activity in Ukraine.

Ukraine’s rapeseed meal (RSM) exports 000't

Ukraine’s rapeseed oil (RSO) exports 000't

Ukraine’s rapeseed crush 000't

Compartilhar
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more