Ukraine sold 60 thousand tons of rapeseed oil to China

As of October 30, Ukraine exported 424 thousand tons of rapeseed, but lags behind the contracted volumes due to logistical difficulties. As of November, 60 thsd tonnes of Ukrainian rapeseed oil were sold to China, which contributed to the intensification of domestic demand from processors. This was discussed on October 31 during a weekly briefing organized by the analytical center of the agricultural cooperative PUSK, created within the framework of the VAR (Vseukrainsk Agrarna Rada – All-Ukrainian Agrarian Council).

“Ukraine does not have time to deliver the contracted volumes of rapeseed because of logistics: some farmers did not receive railcars on time. Due to corn deliveries to Romania, there were queues and delays in wagons. In addition, the work of Odesa ports has intensified, and there is a shortage of railcars. Liquidity on the market is low, with seaport CPT prices ranging from 14,000 to 14,500 UAH/t. It should be noted that rapeseed is mostly exported by road and rail to the Czech Republic and the Baltic States, not by sea,” PUSK says.

In Ukraine, the volumes of rapeseed are concentrated at 500 thsd tonnes. At the same time, sellers are not in a hurry to sell the oilseed, and may postpone sales until December in anticipation of higher prices. However, the demand for rapeseed on the domestic market from the processors is growing.

“Currently, the demand for rapeseed from the processors is active, as about 60 thsd tonnes of rapeseed oil were sold to China in November. The purchase prices are in the range of 12900-13200 UAH/t. We expect a slight upward trend – plus 200-300 UAH/t in the next two weeks. As already mentioned, the demand from processors and exporters is growing,” PUSK summarized.

Tags: China, prices, rapeseed, rapeseed oil, Ukraine