Ukraine has Bumper Rapeseed CropThursday, January 25, 2018
Ukraine reported an 83% increase in rapeseed production for the 2017 harvest ending on December 1 but saw a drop in soyabean and sunflower seed output, the ofimagazine.com reported citing World Grain report on December 29. The Ministry of Agricultural Policy and Food of Ukraine (MAPKU) reported that rapeseed production totalled 2.2 million tons. On the other hand, soyabean production at 3.8 million tons decreased by 12% and sunflower seed production at 11.6 million ton dropped nearly 15%, from the previous year.
According to the US Department of Agriculture’s Foreign Agricultural Service (FAS), changes in tax legislation and excess crush capacity were likely to lead to additional processing activity and higher exports of processed products. The World Grain report said that the Ukraine state budget for 2018 would abolish value-added tax refunds for exports of unprocessed soybeans, rapeseed and sunflower seeds after March 1. “This change could tip the scales from exporters of oilseeds in favor of processors that export oils and meals”, FAS said.
Ukraine process almost 100% of sunflower seeds domestically, soyabeans and rapeseed were exported as unprocessed bulk commodities and also processed into meal and oil for export.