Ukraine. Rapeseed exporters to face stiffer competition with crushers
6 August, 2018 at 16:08Due to attractive export prices for this raw material, crushers could not compete in full with traders in the domestic market in the 2017/18 season. Ultimately, over 90% of the 2017 rapeseed crop was shipped abroad.
The new 2018/19 season is expected to somewhat change the disparity in rapeseed use towards higher domestic crushing. So, according to UkrAgroConsult’s estimates, the crushing share in the rapeseed crop will increase, but rapeseed exports will continue to prevail.
The beginning of the 2018/19 season already features stiffer competition between traders and crushers in the raw material market. Consequently, the new season’s prices, already pushed up by a weakening national currency and pessimistic forecasts for EU rapeseed production, look more bullish.
So, they have already gained 7.3% in the new marketing year (2018/19) compared to a 6% rise in the first month of last season. Domestic rapeseed prices will most likely hit a new high this season.
Palm oil imports to Russia totaled 77.2 KMT in May 2018, or 13.2% more than in the previous month and up 29.3% from May 2017.
The Ukrainian rapeseed market has entered the new 2018/19 marketing year. Have all the expectations of 2017/18 come true? Running ahead of the story, it is safe to say that the past season was generally successful.