In Ukraine, the rapeseed harvest and the second month of the new 2022/23 season both drawing to a close.
The 2022 area for harvesting is up 9.5% from 2021. Even taking into account war-related losses, the 2022 production is expected to be increase.
The current year is facing logistics problems caused by the war. The export is expected to rise even more shortly after the Black Sea ports operation recovers.
In 2021, rapeseed exports picked up only in August because of delays in harvesting. This year in July rapeseed exports is two times higher compared to July 2021. The top importers were Romania, Poland, Slovakia, UkrAgroConsult reports.
While this season’s key challenge is availability of proper logistics to export the harvest, the next marketing year 2023/24 put forward the traditional fundamental factor: how much winter rapeseed will be sown for harvesting in 2023?
According to our analysis, margin of all crops will fall considerably in MY 2022/23, but rapeseed will be more profitable to grow than grains. Provided the weather is favorable, this makes farmers more interested in sowing winter rape. In addition, stable demand from the key buyer – the EU – will also effect positively on farmers intentions encouraging them to keep the rapeseed area comparatively stable.
Top 3 grain importers, August 1-18: Turkey, Iran and South Korea.