Ukraine has reduced the rate of rapeseed exports by 1.8 times – to 220,000 tons per month against the norm of 350,000-400,000 tons, according to the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (VAR).
“We have a decrease in the export rate for rapeseed. Ukraine needs to export 350,000-400,000 tons monthly, but exports exceed 220,000 tons. For September, Ukrainian rapeseed is contracted on forwards with delivery to Romania, Lithuania, Germany exclusively by road and rail. At small river ports forwards are not arranged, only spot market works there. Rapeseed supply is low”, – analysts note.
According to their data, processors gradually pull up the level of purchase prices to 14 thousand UAH/ton, in some regions price tags are 14.2 thousand UAH/ton. Large batches – 2-3 thousand tons of rapeseed – are exported to the EU, which forces domestic processors to raise prices.
One of the factors of price growth on rapeseed, according to analysts, is the news from Canada – the key world producer of canola, about the decrease in the volume of gross harvest.
“According to the USDA report, there was a decrease in the forecast of rapeseed harvest from Canada by 1 million tons. But we can expect further declines in the forecast due to weather conditions. The volume of oilseed production in Canada will determine further price trends in the global market,” the WAR explained.
In the coming week, the conditional prices at small river ports may rise to $380-390/tonne, purchase prices of processors – up to UAH 14.4 thousand/tonne, experts predict.
