October saw first-ever exports of Ukrainian rapeseed oil to France

01.12.2016

10.4 KMT of rapeseed oil was shipped to foreign markets in October 2016 against 15.4 KMT in September 2016 and 16.4 KMT in October 2015, reports UkrAgroConsult. In total, 41.7 KMT was supplied to foreign market in the first four months of 2016/17 (July-October), or 63.2 KMT (60%) down from the same time a year ago (104.9 KMT).

The rapeseed oil export trends are similar to foreign trade statistics for other rapeseed product – rapeseed meal. In addition, the reduction of rapeseed oil stocks available for export directly stems from the 2016/17 decline in rapeseed harvest and crushing.

According to UkrAgroConsult, a change is observed in the top importers of Ukrainian rapeseed oil in the current season 2016/17. So, Poland and Lithuania became the biggest users of this product with respective export shares at 40% (16.7 KMT) and 34% (14 KMT).

On the contrary, China and Italy reduced rapeseed oil purchases from Ukraine to 6% (2.4 KMT) and below 1%, respectively. France, in view of this year’s rapeseed crop failure, is forced to attract new rapeseed oil exporters, and Ukraine found itself among them. Remarkably, the October delivery of this product (6 KMT, 14% of total exports) made the country a major importer.

 

UkrAgroConsult

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