Ukraine. Rapeseed exports will shrink as soon as next month

02.12.2016

Ukraine exported 137.1 KMT of rapeseed in October 2016 against 322.7 KMT in September 2016 and 167 KMT in October 2015, reports UkrAgroConsult. In total 693.6 KMT of rapeseed was supplied to foreign markets in July-October 2016/17, i.e. 502.1 KMT (42%) less than at the same a year ago (1195.7 KMT).

Roughly 80% of 2016/17 export rapeseed availabilities (880 KMT) were shipped abroad in the first four months of the current season. Assessing the trends of the previous seasons as well as this season’s export dynamics, it can be concluded that rapeseed exports will shrink as soon as next month.

According to UkrAgroConsult data, although Europe absorbs 96% of Ukraine’s total rapeseed exports, their volume decreased to 663 KMT from 944 KMT registered a year ago. Faced with a feedstock shortage due to a rapeseed crop failure, the EU is setting it off by attracting new rapeseed exporters such as Canada and Australia. In the current season 2016/17, Bangladesh and Israel – traditional importers of Ukrainian rapeseed – do not stop purchasing this commodity and their export shares equal 2% (13.3 KMT) and 1% (11 KMT), respectively.

 

UkrAgroConsult

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