Nowadays in Ukraine the rapeseed market has been very erratic. Therefore, the sharp price increase that occurred this week is likely to be followed by stabilization.

This issue was discussed on April 23 during the analytical briefing of the First Ukrainian Agricultural Cooperative (FUAC), created within the UAC.

In April Ukraine has exported 119.9 thsd tons of rapeseed. Exports are slow as the remnants of the old harvest are being sold. In May-June, export volumes will be minimal. The new harvest is more liquid. In April, the notional prices for rapeseed has been about EUR 450 per ton, but at the beginning of this week they rose sharply by EUR 8-9 per ton. Such changes are a manifestation of strong market volatility, probably the prices will not exceed EUR 460 per ton and will further stabilize," the analytical department of the FUAC noted. 

According to traders, 300,000 tons of new crop oilseeds have already been sold for delivery in July and August. There is significant demand from Germany.

According to analysts, the upcoming rapeseed season will be successful for Ukraine.

"Under the worst-case scenario, Ukraine will harvest at least 3.5 mln tons of rapeseed in 2024. According to the forecasts of the Ministry of Agrarian Policy, the gross harvest of the oilseed will be at 4.1 mln tons. Production is expected to decline in the EU this year, so Ukrainian rapeseed has good prospects," the FUAC added.