In 2024/25, Ukraine has already exported 80% of the projected volume of rapeseed

2024-12-12 09:49:34
In 2024/25, Ukraine has already exported 80% of the projected volume of rapeseed

Ukrainian rapeseed exports are down for the third month in a row amid seasonal depletion of stocks due to a low harvest in 2024. In November, compared to October, it decreased by 31% to 327,000 tons. For the first time in the season, the volume of exports was lower than in the same month of 2023/24 MR.

 

In total, in FY 2024/25, Ukraine exported 2.6 million tons of rapeseed, which was the third largest volume after the record figures of FY 2019/20 and FY 2022/23. According to analysts, 79% of rapeseed export potential has already been exhausted.

 

In the December report, USDA experts increased the forecast of rapeseed exports from Ukraine by 0.15 to 3.37 million tons due to a decrease in domestic processing.

 

The EU countries remained the main buyers of Ukrainian rapeseed in 2024/25 MR, where 2.43 million tons of rapeseed were delivered, which is 13% higher than the previous season. Compared to 2023/24 MR, the share of the EU in the volume of domestic exports increased from 90% to 92%, while the share of Ukrainian rapeseed in the total EU imports increased from 64% to 71%. But in the future, it will decrease against the background of seasonal increase in canola supplies to the EU from Canada and Australia.

 

At the same time, the number of countries that bought Ukrainian rapeseed in 2024/25 MR decreased from 36 to 27 compared to the corresponding period of the previous season.

 

According to the European Commission, in 2024/25 MR (as of December 8), the EU increased rapeseed imports compared to the corresponding period of the previous season by 3% to 2.6 million tons, of which 1.8 million tons were supplied from Ukraine, 474 thousand t - from Australia and 113 thousand t - from Canada.

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