Ukraine leading by rapeseed supply to EU with 68% market share - European association

MOSCOW. Oct 22 (Interfax) - EU members have imported 1.41 million tonnes of rapeseed as of October 6, since the beginning of the 2024 marketing year (June-July), which is 17% more than in the respective period of last year, Ukrainian media said, citing Germany's Union for the Promotion of Oil and Protein Plants (UFOP).

Ukraine remains the most important supplier of rapeseed with an import volume of 960,400 tonnes and an import share of 68%, versus 599,400 tonnes and 60%, respectively, last year, the media said. However, according to experts, Ukraine is unlikely to be able to maintain these figures in the coming months, since this year's harvest is a quarter smaller, which significantly limits the export potential.

Australia ranks second by rapeseed supplies to the EU with 351,800 tonnes of import volumes and 25% of the import share, up 3% from the previous year.

Moldova ranks third with 56,200 tonnes. Its supplies have fallen more than twofold year-on-year. Analysts believe that most of the rapeseed comes from Ukraine.

Canada has not yet supplied significant volumes of rapeseed to the EU in the current marketing year, but may increase its share due to a very large harvest and the inability of China to purchase. However, the use of Canadian rapeseed in the EU is limited due to the fact that it is grown from genetically modified varieties. The biofuel market remains an option for selling Canadian rapeseed in the EU.