Ukraine’s 2024 rapeseed crop seen falling to no more 4.1 mln T, producers say

Ukraine’s 2024 rapeseed crop could fall to no more than 4.1 million metric tons from around 4.7 million tons in 2023, mostly due to unfavourable weather in early May, producers’ union Agrarian Council said on Tuesday.

The council, Ukraine’s largest agribusiness group, said producers had expected a harvest of up to 5 million tons, while the agriculture ministry saw the crop at 4 million.

The council said in a statement that Ukrainian rapeseed export prices had already risen to 420-425 euro per ton and could continue to rise on the smaller crop forecast.

The group said contracts for deliveries of rapeseed to Germany were concluded at 460-465 euros per ton.

“This growth will be facilitated by local problems with May frosts. There is no official information yet. However, according to producers, in Dnipropetrovsk, Kharkiv and Kirovohrad regions, damage to rapeseed crops in some farms is up to 30% to 40%,” the council said.

However, a state weather forecaster said on Tuesday recent frosts in the east, north and centre of Ukraine had not caused significant damage to grain and oilseed crops.

Ukraine experienced several waves of frost between May 1 and May 16, said Tetiana Adamenko, head of the forecaster’s agriculture department, adding that May frosts are a common occurrence.
Source: Reuters (Reporting by Pavel Polityuk, Editing by Mark Potter)