SUBSTANTIAL INCREASE OF RAPESEED PRODUCTION IN BOTH UKRAINE AND RUSSIA Charts below show the substantial increase of rapeseed production in both Ukraine and Russia since the dissolution of the Soviet Union. The vast majority of rapeseed grown in both of these countries is for export, either as seed or oil. In 1987, rapeseed production in Ukraine was pegged at 49kt and in Russia at 188kt. In 2022, Ukrainian production hit 3.2Mmt and Russian production hit 3.9Mmt. This is in correlation to the substantial increases seen in both corn and wheat production in both countries.
Over 85% of Ukrainian rapeseed is exported, with the majority destined for Europe, specifically Germany, France, Belgium and the UK receiving the bulk before Canadian and Australian canola come onto the market and takeover European imports from winter time onwards.
Export volumes of rapeseed were substantially capped once the war started, but the vast majority of the 2021 crop had already left Ukrainian shores destined for Europe. Marketing year 2022/23 crop, although held up marginally prior to the export corridor being authorised, exports have flowed better than anticipated. According to APK-inform, Ukraine has exported 2.3Mmt of rapeseed in July- October 2022/23 MY, down 1% on last year with over 90% of the total volume shipped to the EU. Even though the market belief is that the termination of the grains deal is highly unlikely, it will do little to effect rapeseed exports this season as the bulk have already been shipped, if the corridor is to be halted.
OVER 85% OF UKRAINIAN RAPESEED IS EXPORTED, WITH THE MAJORITY DESTINED FOR EUROPE
Rapeseed Oilseed Production by Year.
Ukraine
Russian Federation Source: Index Mundi 22 | ADMISI - The Ghost In The Machine | Q3 Edition 2022
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