Rapeseed oil exports cannot compensate for revenue loss due to duties

Despite the growth, rapeseed oil exports cannot compensate for the loss of revenue due to duties on soybean and rapeseed exports.

This is reported by Latifundist with reference to Spike Brokers.

Thus, in September, rapeseed exports fell more than twice compared to last year. Rapeseed oil exports increased to 82 thousand tons (versus 36 thousand tons last year in September), but this does not compensate for even half of the lost revenue from possible rapeseed exports.

Producers are holding back sales, as they expect the restoration of the duty-free regime. As for processors, their low purchase prices create intense competition between producers and processors.

Spike Brokers noted that a significant part of farmers are forced to revise their plans for sowing winter rapeseed with a possible reduction in areas.

As a reminder, earlier, People’s Deputy Yaroslav Zheleznyak submitted to the Verkhovna Rada a bill to abolish the export duty on soybeans and rapeseed.