Russia will close rapeseed exports in the new 2022/23 season even expecting a record harvest

UkrAgroConsult

Article author:

Svitlana Kupreeva

Oilseed Market Analyst

In 2021/22 rapeseed exports outside the Eurosian Economic Union (EAEU) was limited by a customs duty of 30% (effective from July 1, 2021 to August 31, 2022), as well as a ban on the export of rapeseed outside the EAEU (effective from April 1, 2022 to August 31 2022).

The reasons for the restrictions are to reduce the rapeseed exports (the exports are considered as exports of raw materials), to curb the domestic prices growth and to provide livestock feed producers with domestically produced meal.

As a result, rapeseed exports fell in 2021/22 almost in 2 times. – the share of rapeseed exported decreased to 12% in the 2021 harvest being the minimum since 2017/18 MY.

Belarus as the main importer – 89% of all exports (the need for raw materials for the “Commonwealth” crushing plant).

Growth of domestic processing (by almost 38% to 2020/21 MR), high demand from importers led to record export of rapeseed oil. TOP-3 importers are the same – China, Norway, EU countries.

In 2022/23 MY russia plans to continue export regulation:

• ban on the export of rapeseed outside the EAEU (until February 28, 2023),
• tax on rapeseed exports outside the EAEU – 30% (until August 31, 2023).

Rapeseed harvest in 2022 is expected to grow due to record high plantings as well as higher than the last three years average yield.

Almost all harvest will be crushed domestically. Key importers/buyers are projected to be relatively stable.

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Tags: China, EU, rapeseed, Belarus, rapeseed oil, Norway, crop forecast, Russia