Ukraine is preparing to set a new historical record in rapeseed production, increasing the gross harvest of this oilseed to an impressive 4.2 million tons. This represents an increase of 5% compared to the previous estimate and 17% compared to the previous year, APK-Inform news agency reports.

The increase in rapeseed production was made possible by the expansion of the area under this winter crop, which reached about 1.5 million hectares, which means an increase of 3% compared to 2022. This increase in planted areas was driven by attractive prices for rapeseed on the market last fall, which stood out against the backdrop of a general decline in crop prices in Ukraine.

The weather conditions during the growing season and rapeseed ripening were generally favorable, which affected the crop's yield. It is estimated by APK-Inform analysts at 28.8 centners per hectare, which is a 5% increase compared to the previous estimate and a 3% decrease compared to 2022.

The updated forecast for rapeseed exports for the 2023/24 season is about 3.8 million tons, which means an increase of 4% compared to the previous season. However, it is worth noting that given the difficult situation in the region due to the suspension of the grain corridor, rocket attacks on the Danube ports and a significant load on the western crossings, exports may be more spread out in time compared to previous years.

Furthermore, it is important to note that Ukrainian rapeseed exports are currently banned to five EU countries, namely Poland, Romania, Bulgaria, Slovakia and Hungary. These restrictions are likely to be extended after September 15.