Canada imported rapeseeds from Ukraine for the first time BTMA
Rapeseed oil is very common in our daily cooking diet,and it is relatively healthy for our body,recently the rapeseed market happened a surprsing news.
Canada Imported rapeseed from Ukrainian
Foreign media news on April 20: A large multinational grain and oilseed trading company ordered at least two shipments of Ukrainian rapeseed, which arrived in the company’s Canadian crushing plant in August because of the tight supply of Canadian rapeseed.
It is said that this is the first time Ukraine has exported rapeseed to Canada, the world’s number one rapeseed producer and exporter.
Canada’s rapeseed supply and demand are tight this year, because of the decline in production and the increase in exports. According to a report issued by the US Department of Agriculture’s Overseas Agriculture Service, the 2020/21 year (August to July of the following year) Canadian rapeseed ending stocks are expected to be 700,000 tons, which is far lower than the 2.4 million tons in the previous year. Tight supply has caused Canadian domestic rapeseed prices to rise to US$730/ton, a 70% increase over the same period last year.
Due to the increased planting area, the Canadian rapeseed production in 2021/22 is expected to increase by 7%. However, the weather in 2021/22 may continue to be dry, which will affect production.
The pre-sale price of Ukrainian new season rapeseed is expected to be US$570-580 per ton, FOB price, which is 150 to 160 US dollars/ton cheaper than the domestic price in Canada. As the supply of rapeseed at the beginning of next year may still be low, it may support Canada to purchase more rapeseeds from Ukraine.
The U.S. Department of Agriculture’s Overseas Agricultural Service reported that Ukraine’s rapeseed production in 2021/22 may reach 2.7 million tons. Ukraine exports nearly 90% of its rapeseed production to the European Union, and Ukraine may export 2.3 million tons of rapeseed next year.
In addition, Ukrainian rapeseed oil exports have reached 100,000 tons so far in 2020/21, of which China purchases nearly half. The export volume of Ukrainian rapeseed meal reached 130,000 tons, of which Israel was the number one buyer, purchasing about 36,000 tons.
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