Rapeseed processing to boost 60% in 2018/19

The forecast for rapeseed processing in Ukraine in MY2018/19 is increased by 60% up to 350 thou. tons as compared with the previous report, APK-Inform reports.

The indicator should be 2.5 times higher than the result of the previous season and close to a record high.

The large volumes of oilseed processing in July and August 2018 motivated the revision of the forecast. Thus, within two months, 250 thou. tons of rapeseed were processed vs 84 thou. tons over the corresponding period of the previous season.

For this reason, the estimate of the future export of rapeseed was accordingly reduced by 5.4% to 2.27 million tons (+7.2% over MY2017/18). However, the figure will be the maximum for the last ten seasons.

Earlier it was reported that the indicators of the first two months of the new export season of rapeseed oil had reached record levels due to the increase in the processing of rapeseed in Ukraine. In total, in July-August of MY2018/19, c.43 thou. tons of rapeseed oil were supplied to foreign markets, which is almost twice the indicator for the same period last year.