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March 31, 2016

                                                                

Ukraine's rapeseed exports sink 25% to nine-year low
 

 

Ukraine's rapeseed exports could decline to a nine-year low in the next season, Agrimoney.com reported.

 

The development would benefit Australia, another key rapeseed exporter to the EU. In 2016-17, Ukrainian rapeseed exports is expected to fall 25% year-on-year, to a volume of 1.05 million tonnes. The decline would position Ukrainian shipments at their lowest since 2007-08.

 

Deliveries to the EU will also tumble by 25% to 950,000 tonnes in the next season.

 

According to the USDA's Kiev bureau, the bloc is still Ukraine's biggest market, acquiring close to 1.3 million tonnes in 2014-15. Ukraine's rapeseed is chiefly used for biofuel production, particularly the EU.

 

As Ukraine's supplies decrease with the EU's rapeseed output at about 21-21.5 million tonnes - below consumption which averages about 25 million tonnes, the bloc would require alternate sources to meet demand.

 

However, Canada, a top exporter of rapeseed variant canola, "produces genetically-engineered rapeseed" which does not meet EU regulations.

 

Concerning the latest export forecast for Ukrainian rapeseed, the USDA said data reflected an expectation of 1.47 million tonnes harvest, a year-on-year drop of 280,000 tonnes which is also a nine-year low. The drop has been attributed to poor weather which affect plantings.

 

In addition, the USDA bureau commented that rapeseed – also used for producing biodiesel - continues to lose favour among local farmers as its export and local price are strongly connected to decreasing global oil prices.

 

- Agrimoney.com

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