Rapeseed prices rise in Ukraine after harvest halted by rain

Heavy rains over the weekend in the western and central regions of Ukraine have paused the rapeseed harvest, raising concerns over potential crop losses. According to GrainTrade, this has triggered another wave of price increases for the oilseed.

A draft law introducing a 10% export duty on rapeseed and soybeans has not yet been signed by President Zelenskyy, so traders remain hopeful that it will not take effect from August 1. As a result, they have stepped up rapeseed purchases in the domestic currency.

Procurement prices for rapeseed have increased by UAH 500–800/t since the start of the week, reaching UAH 23,800–24,500/t delivered to port. Prices offered by processors have remained at UAH 23,500–24,200/t delivered to plant. Export prices in foreign currency have also risen by $5–6/t to $545–550/t CIF Black Sea ports, encouraging farmers to sign new contracts.