The reduction of imports of oilseeds by the EU will lead to lower prices in Ukraine
the European Commission forecasts that after two years of growth in foreign purchases in the new season of EU countries will significantly reduce the import of oilseeds. Against the background of increasing production in season 2017/18 EU imports of 17.4 million tonnes of the oilseed.
the Largest share in the import of oilseed is soybean, the purchase of which will be reduced from 14 million tonnes in 2016/17 MG to 13.6 million tonnes in 2017/18 MG. Imports of rapeseed will be reduced from 4 to 3.46 million tons.
In 2017, the yield of oilseed crops will be 33,32 million tonnes, 3 million tonnes will exceed the level of 2016 Thanks to the expansion of acreage and good yield gross yield will be more the previous two seasons.
the Production of rapeseed will increase from 19.6 million tonnes in 2016, with 21.89 million tons in 2017, soybeans – from 2.15 to 2.29 million tons, sunflower – from 8.59 to 9.1 million tons.
Ukraine in 2017/18 MG collect 2 million tonnes of rapeseed, which is almost twice the previous season.
Since almost 90% of Ukrainian rapeseed are sold in foreign markets, it is possible to expect increase in volumes of export up to 1.7-to 1.9 mln t. the Main consumers of domestic rapeseed remain EU countries: Belgium, Poland, France, Germany and the Netherlands. During July 2016-April 2017 the export of rapeseed in these countries amounted to 84% of the total volume of export of Ukrainian rapeseed.
On the Euronext of the price of rapeseed grew by 2.25 Euro/ton to 357,25 € /t or 402,16 $/t on the back of speculative adjustments in soybean prices in Chicago.
In the new season prices for rapeseed will remain stable and subject to favorable weather conditions as you approach the harvest slowly falling.