The conflict between Russia and Ukraine remains a key factor driving grain and oilseed prices while continuing to provide underlying market support, according to the UK Agriculture and Horticulture Development Council. The dynamics of global trade have been impacted as a result, with the flow of grains and oilseeds out of Ukraine initially restricted.  

Although an export agreement was established in July. The Istanbul Agreement allows exports of the Black Sea grain corridor for 120 days from July 22 until the end of November.

Since the establishment of this agreement, the flow of exports has been gaining momentum. According to UkrAgroConsult, agricultural exports from 1 to 18 September totaled 3.9Mt. Of these, 2.0Mt came out of Odessa (including corn, wheat, rapeseed and vegetable oils). Total exports of agricultural products in September may even reach record levels of 5.5 to 6.0Mt. If accomplished, this may surpass the previous September 2019 record of 5.8Mt (according to UkrAgroConsult).

The UK began importing rapeseed from Ukraine in the 2019/20 season. The Front of Ukraine carries its exports of rapeseed at the beginning of the season. This is seen during the 2020/21 and 2021/22 seasons, when the UK imported rapefrom Ukraine from August to December.  

For total exports (including rail and road), UkrAgroConsult reports that 784.8 Kt of rapeseed were exported in July and August. That's only 5.9% behind last season (July to August).

According to the United Nations, on September 27, 399.6 Kt of rapeseed left Ukraine by port (from Odessa, Chornomorsk, Yuzhny/Pivdennyi). This was recorded for the Netherlands, France, Romania, Belgium, Germany and Portugal.

Source: Agrolink