Rapeseed market in Ukraine: overview of prices and trends

30 апр, 15:05

Rape purchase prices in Ukraine at the end of the 2023/24 Marketing Year (MR) were marked by a decline due to low demand, as only a few traders purchased court lots intended for shipment in April-May. At the same time, traders are actively concluding contracts for rapeseed of the new crop with delivery to Black Sea ports.

At the moment, rapeseed prices in Black Sea ports are $380/t or UAH 17,000/t. Despite the rapid rise of the dollar, traders refuse to raise prices.

The unblocking of the borders with Poland has led to an increase in demand for rapeseed supplies to the EU, but despite this, sales volumes remain low.

In FY 2023/24, Ukraine exported 3.62 million tons of rapeseed, but the pace of exports is slowing down. Forecasts of the Ministry of Agrarian Policy regarding the rape crop for 2024 are 4.1 million tons.

On the MATIF exchange, prices for May rapeseed futures fell by 3.3% in two sessions to €441.75/t, under the influence of reduced demand and significant stocks at European processors. However, prices for August new crop futures were only slightly down 0.3% to €459.5/t (or $491/t).

According to the MARS agency, the forecast of the average yield of rapeseed in the EU for 2024 has been increased by 2% compared to previous estimates, which corresponds to 3.26 t/ha.

Against the background of lower demand for soybeans in China and a large soybean harvest this season, oilseed prices will come under pressure from overproduction.


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