The volume of rapeseed processing in Ukraine will reach a record level, but exports will also remain at a high level

According to APK-Inform news agency, in the period July – September 2021/22 MY, Ukraine increased the volume of rapeseed processing by 58% compared to the same period of the previous season to a record 383.3 thousand tons, which is due to several factors, the main of which is an increase in global demand and reasonable prices for rapeseed oil.

In Ukraine, export prices for rapeseed oil have been at a record high level for all supply bases almost all the time since the beginning of my 2021/22, and at the beginning of November they reached a maximum of D 1,430 -1 1,450/ton DAP.

According to the agency's estimates, the rapeseed processing season is coming to an end, as 89% of the projected rapeseed volume for the current season has been processed in 3 months.

APK-Inform experts believe that the total volume of rapeseed processing in 2021/22 MG will increase by 37% compared to the previous season to a record 431.5 thousand tons, which will exceed the previous record of 394 thousand tons set in 2019/20 MG.

In early November, market participants reported a significant reduction in rapeseed stocks in Ukraine, which led to a decrease in demand from both processors and traders who cannot form sufficient batches for Operation.  

As of October 1, 2021, rapeseed reserves decreased from 651.2 to 642.5 thousand tons compared to the same period last year, including at agricultural enterprises – up to 208.6 thousand tons, and at storage and processing enterprises – up to 433.9 thousand tons. 

Rapeseed exports in August 2021 amounted to 772.159 thousand tons, in September – 888.9 thousand tons, and in general in 2021/22 MG – 1.744 million tons, which is 7.3% higher than the previous season on the same date – 1.626 million tons.

In 2021, Ukrainian farmers harvested 2.95 million tons of rapeseed, of which 2.6 million tons are planned to be exported. In 2020, the rapeseed harvest in Ukraine decreased by 22% compared to 2019 from 3.3 to 2.557 million tons, while in 2018 it amounted to 2.747 million tons, and in 2017 – 2.195 million tons.