In 2023/24, EU countries significantly reduced imports of rapeseed, sunflower and corn

The European Commission published the final data on the import and export of products in the 2023/24 FY, according to which the EU countries significantly reduced the import of rapeseed, sunflower and corn, but increased the import of sunflower oil.

According to ATREA BROKERS, compared to the previous season, imports to the EU in 2023/24 MR:

• sunflower - decreased by 65% from 2.2 million tons to 767 thousand tons (of which 423 thousand tons were delivered from Moldova, 226 thousand tons from Ukraine, 52 thousand tons from China, 29 thousand tons from Turkey and 11 thousand tons - from the USA),
• rapeseed - decreased by 24% from 7.4 to 5.6 million tons (of which 3.1 million tons were delivered from Ukraine, 1.8 million tons from Australia, 248 thousand tons from Moldova, 135 thousand tons from Serbia, 120 thousand tons - from Canada),
• corn - decreased by 27% from 26.4 to 19.3 million tons (of which 13.3 million tons were delivered from Ukraine, 2.9 million tons from Brazil, 1.2 million tons from Canada),
• soybeans - remained at the level of 13.07 million tons (of which 5.9 million tons were supplied from Brazil, 5.3 million tons from the USA, 956 thousand tons from Ukraine, 553 thousand tons from Canada, 130 thousand tons from from Uruguay),
• soybean meal - decreased by 2% to 15.7 million tons (of which 9.1 million tons were delivered from Brazil, 3.7 million tons from Argentina, 952 thousand tons from the USA, 527 thousand tons from Ukraine, 487 thousand tons - from Paraguay),
• soybean oil - remained at the level of 518 (515) thousand tons (of which 212 thousand tons were delivered from Ukraine, 134 thousand tons - from Argentina, 68 thousand tons - from Norway),
• sunflower oil - increased from 1.7 to 2.8 million tons (of which 2.7 million tons were supplied from Ukraine, 80.5 thousand tons from Serbia and 43 thousand tons from Moldova).

Exports of wheat from the EU in 2023/24 FY amounted to 31 million tons (31.6 million tons in 2022/23 FY), of which 4.28 million tons were delivered to Morocco, 3.4 million tons to Nigeria, 2.9 million tons - to Algeria, 2 million tons - to China and 1.5 million tons - to Egypt.

It should be noted that the EU remains the main sales market for Ukrainian agricultural products, and in the new season we can expect an increase in supplies of sunflower oil, rapeseed and corn in this direction.