Rapeseed oil exports from Ukraine boosted 2.4x

Since the start of 2018/19 (July-March), Ukraine exported 146.7 thou. tons of rapeseed oil, significantly increasing last year's volume (60.7 thou. tons). However, this indicator is 2.7 per cent lower from the previous record of 2015/16 — 150.8 thou. tons, UkrAgroConsult reports.

“In March of the current year, Ukraine exported the minimum volume of rapeseed oil since the beginning of the season: 0.1 thou. tons vs. 1.5 thou. tons last month and 0.2 thou. tons in March 2018. Given the dynamics of the current season and the traditional decline in processing volumes by the end of the marketing year, the export potential of the rapeseed oil market in 2018/19 is lower than the record one,” analysts say.

In July-March 2018/19, the rapeseed oil market is still split between the EU — 53 per cent, and China — 47 per cent, leaving Malaysia less than 1 per cent of total exports.

“A year earlier, the European states had an undisputable advantage. The volume of purchases of Ukrainian rapeseed oil by the EU increased by 48 per cent from the previous year, while China increased imports almost 9x,” the message says.

Previously it was reported that soybean exports from Ukraine in February 2019 decreased by a third from the previous month, and by almost 40 per cent from last year, having reached 209 thou. tons.