Export prices for rapeseed in Ukraine show positive dynamics

Export prices for rapeseed in Ukraine, which recently experienced a decline, now show positive dynamics. The price of rape rose by 200-400 hryvnias per ton, reaching the level of 22,200-22,400 hryvnias per ton, or 465-475 USD per ton. These data are provided by GrainTrade analysts.

After falling to 22,000 hryvnias per ton on Monday, rapeseed prices rose again thanks to reduced supply and an increase in the dollar rate on the interbank market. It is noted that the rise in sunflower prices, due to a decrease in crop forecasts, also supports the high level of rapeseed prices in Ukraine.

Rapeseed is also recovering on the European market. The European Union imported 0.44 million tonnes of rapeseed in the 2024/25 season (from July 1 to August 11), which is 55% more than the previous season, when imports amounted to 0.29 million tonnes. At the same time, 65% of this volume comes from Australia, and only 22% - from Ukraine.

In July, Ukraine exported 278,000 tons of rapeseed, which is 15% more than in July last year. However, a significant increase in export rates was observed in August, which indicates positive changes in the market.

Global canola production in the 2024/25 season will increase by 0.9 million tons to 88.8 million tons, according to updated USDA forecasts, thanks to an increase in estimates for Russia. However, analysts did not lower their forecasts for the EU and Ukraine, despite the expectations of farmers.

There is also activity on the European market. November rapeseed futures on the Paris exchange rose 0.9% to 457 euros a tonne, after earlier falling 2.6% on the publication of the report. November canola futures in Winnipeg rose 1.6%, but remain under pressure from falling soybean prices.