News
08.07.2011
Ukraine to switch to exports of rapeseed oil instead of rapeseeds?
According to information of market operators, the majority of foreign traders express their interest in the prospects for exports of rapeseed from Ukraine in 2011/12 MY. The recent proposal of the Ministry of Economic Development and Trade of Ukraine to impose the export duties on some agricultural products, including rapeseed, became the main reason for concern. Market participants also questioned whether imposition of the duties will cause increase of the oilseed processing rates on the domestic market and, therefore, increase of the export volumes of rapeseed oil on foreign markets in the season-2011/12?
It should be noted that in 2008/09 MY, Ukraine exported 36.43 thsd tonnes of rapeseed oil only. Despite the fact that the index is rather low, it became the record for the country. The record harvest of the oilseed in the reporting season became the main reason for its achievement, as well as the increase of rapeseed processing rates on the domestic market up to 111.83 thsd tonnes. At the same time during 11 months of 2010/11 MY rapeseed oil exports from Ukraine totaled 235 tonnes only. The country does not practically deal with the oilseed processing.
