Ukraine sets record in rapeseed oil export in July-Dec 2023 - analysts

MOSCOW. Jan 9 (Interfax) - Ukraine has set a record in export of rapeseed oil in the first half of the 2023-2024 marketing year (July-December) by exporting 356,000 tonnes of it, which is six times more than in the same period of the previous year, Ukrainian media outlets said with a reference to the APK-Inform information and analytical agency.

"A high demand for rapeseed oil on the global market against the backdrop of attractive prices primarily facilitated the considerable acceleration of the pace of and the increase of export of this product in the current season. Difficulties with procurement of sunflower during the off-season also encouraged Ukrainian plants to increase processing rapeseed," analysts said.

According to APK-Inform, the main volumes of Ukrainian rapeseed oil in the six months of the 2023-2024 marketing year were shipped to the European countries (54%) and China (31%).