Ukraine’s rapeseed exports may hit a 4-year high

2018/2/17 15:09:32

Known to many as canola oil, rapeseed oil has been found as the new and healthier standard, compared to olive oil, in the annex of gourmet cuisine.


Photo: Rapeseed in bloom


By  UkrAgroConsult for Born2Invest, Feb 16, 2018


Rapeseed is now becoming once again a topical subject for the oilseed sector of agriculture. Remarkably, this involves not only forecasts for the next season 2018/19, but also expectations about the results of the current marketing year. Seemingly, the most active part of MY 2017/18 for the rapeseed market is already over, and its final results can be stated with high probability. But the current season’s trends make us adjust the supply and demand balance for this oilseed.


First of all, the changes concern the 2017 rapeseed crop estimate: UkrAgroConsult is raising it to 2290 KMT. This prompts us to increasingly often think of the reliability of official estimates and growers’ withdrawal into the shadows — this time in the rapeseed segment as well.


The brisk pace of rapeseed exports seen in the first half of MY 2017/18 (almost 2 MMT in July-December) suggests that Ukraine will ship abroad a total 2080 KMT this season (up 1045 KMT from MY 2016/17). So, it is going to hit a four-year high.


We cannot but dwell on the range of rapeseed export destinations. So, the existing end markets grow in size along with a rising number of trade partners within the EU, which absorbed 82 percent of total exports (1626.6 KMT against 847.5 KMT a year ago).


In addition, Pakistan resumed rapeseed purchases from Ukraine and currently accounts for 9 percent of its total exports with some 183 KMT imported. Bangladesh, a traditional buyer, steps up its purchases (53.2 KMT against 19.8 KMT a year ago). It is worth noting that Ukraine took over the positions of the world’s top rapeseed exporter, Canada, in the EU and Pakistani markets.


[…] ... s-may-hit-four-year-high/



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