Ukraine: rapeseed crop will hit a lower high

The beginning of the new 2019/20 season and the completion of rapeseed harvest in Ukraine make prospects for the newly started marketing year a topical issue.

Forecasts for the 2019 rapeseed crop are sinking due to a lower actual yield than expected. Despite favorable sowing conditions in the fall of 2018 and high winter survival rates, this year’s hot, dry June became a predominant adverse factor for rapeseed production.

According to real-time data, rapeseed harvest was almost 100% complete as of August 8 (1241.7 Th ha harvested out of the 1257.4 Th ha, +28.7% from last year). The crop amounts to 3058.4 KMT (+21%) with a yield of 2.46 MT/ha (-6%), reports UkrAgroConsult.

Taking into account last season’s experience of raising crop estimates, UkrAgroConsult leaves its original rape acreage estimate unchanged. Despite a yield decrease, this will allow growers to harvest a record crop.

The rapeseed market’s export potential will be reduced as well as the crush volume.

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Please be reminded that on September 5, UkrAgroConsult will host a major meeting point of the oilseed industry operators – the 7th International Conference “Black Sea Oil Trade-2019” in Hilton, Kyiv, Ukraine.

‘Black Sea Oil Trade’ conference annually brings together key players of the global agribusiness at the start of a new oilseed season. The goal of the conference is to discuss prospects and directions of the Black Sea and global oilseed market development, exchange international contacts, share recommendations for adapting business strategies in the changing market and global trade.

Delegates from 15 countries have already registered for Black Sea Oil Trade -2019. Conference participants are represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegoils, investment companies, banks, legal, shipping, brokerage, insurance, surveyor and other companies.