High rates of export of oilseeds from Ukraine support purchase prices

Interruptions in energy supply hinder the work of industrial enterprises of Ukraine, in particular, SEZs and port infrastructure, as a result of which oil crops are sent for export, and not for processing. The active export of grain and processed products in September and October through the grain corridors slowed down significantly in November and December against the background of artificial delays in the inspection of vessels by Russian inspectors as part of the SCC, so traders are reorienting supplies towards the EU.

According to the Ministry of Agriculture, in the first decade of December, the export of oil crops and sunflower oil from Ukraine slowed down, while the export of sunflower meal increased sharply. During December 1-8, 159,000 tons of sunflower meal were exported, of which more than 70% or 112,400 tons were shipped to China. In the current season (since September 1), 1.2 million tons of meal have already been exported. Active exports of meal against the background of the shutdown of processing plants led to an increase in domestic prices, but the prices of demand from the EU are starting to fall again.

During December 1-7, Ukraine exported 55.3 thousand tons of sunflower oil, of which 19.5 thousand tons - to Romania, 9.3 thousand tons - to Bulgaria, and in general, in 2022/23 MR, oil exports reached 1.5 million tons The main oil terminals in Mykolaiv were hit by rocket attacks, and almost all factories on the Black Sea coast are not working, so the export of oil through the ports is very slow.

The export of sunflower in 2022/23 MR amounted to 962 thousand tons, in particular for the period of December 1-7 – 74.8 thousand tons, of which 26.9 thousand tons were shipped to Bulgaria and 19.6 thousand tons to Romania. This year's sunflower harvest will not exceed 10 million tons, therefore, in the case of active exports, the competition for volumes between processors and exporters will significantly intensify in the second half of the season.

The export of soybeans in 2022/23 MR amounted to 907.7 thousand tons, in particular during December 1-7 - 58.5 thousand tons, of which 51% or 29.9 thousand tons were shipped to Turkey through the Danube ports. Soybean production in the current season will amount to 3.6 million tons, of which approximately 1 million tons are planned to be processed domestically.

The export of rapeseed in 2022/23 MR reached almost 2.9 million tons, in particular for the period from December 1 to 7 - 38.9 thousand tons, of which 12 thousand tons were shipped to Poland and 13 thousand tons to Romania. The export potential of domestic rapeseed in the current season is almost exhausted.