Sunflower seed/Sunflower Oil/Meal market. Season of 2023/24 (Sept-Aug)
SFS exports are lower in 2023/24 than last season due to bans imposed by EU countries;
SFS stocks decreased in June due to high crushing and stable export demand;
The lower SFO and meal exports in Sept-Dec 2023 are offset by high shipments in Jan-May 2024, exports are higher year-on-year by 21% and 22%, respectively;
SFO exports remain high even in the second half of 2023/24 season (February-June), May monthly exports were record at 714 K mt.
Soybeans/Soy Oil/Meal markets
Soybean S&D is adjusted to increase crushing due to decrease in exports
Soybean exports have been declining since January. Exports for the nine months of 2023/24 (Sept-May) is by 4% behind last season
Soybean oil exports are record, soybean meal shipments are also the highest in the last four seasons.
Rapeseed/Rapeseed Oil/Meal
The last month of the rapeseed is underway. Taking into account the export rates of rapeseed, oil and meal, the rapeseed S&D needs in revaluation of the harvest.
Exports of rapeseed/canola oil/meal are at record levels, even May shipments were impressively high;
The export potential is almost fully realized, for eleven months of 2023/24 rapeseed exports (+7% to 2022/23 season);
2024/25 Season Forecast
Based on the market analysis in the previous seasons, calculations of the oilseed farmers’ margins, as well as the current non-market factors, UkrAgroConsult forecasts for 2024 the following:
Oilseed areas (UkrAgroConsult):
- Sunflower (+1.7% to 2023/24);
- Soybeans (+10%);
- Rapeseed (-5.7%).
Oilseeds harvest (UkrAgroConsult):
- Sunflower seed (-3% by 2023/24);
- Soybeans (+10% y/y);
- Rapeseed (-19%).
Source: https://ukragroconsult.com/en/news/ukraine-sd-of-oilseeds-vegetable-oils-and-meals-june-2024/