Last week world rapeseed quotes fell. Some experts expected the same tendency in Ukraine on Monday but this did not happen. Purchase prices remained high due to active exports and purchases by traders. Friday 3.7% drop in oil prices has not yet affected the rapeseed market. But the pressure on quotes will increase in the coming days.
Over the week, purchase prices for rapeseed in Ukraine increased to 22,700-23,000 UAH/t or 475-485 USD/t with delivery to Black Sea ports. This happened after farmers had almost stopped selling after the price drop. Processors offer 20,500-21,500 UAH/t for rapeseed with delivery to the plant.
According to APK-Inform news agency, Ukraine exported 278 thousand tons of rapeseed in July 2024. This is 15% higher than July 2023 figure (242 thousand tons) due to the early ripening of the crop and high prices for the oilseed. This was the highest export for this month in the last 5 years.