Feb. 5 (Bloomberg) -- Production of rapeseed in Ukraine, the world’s third-biggest exporter, may rebound next season from a five-year low as the condition of winter crops improved, Oil World said.
At the end of January, as much as 94 percent of winter rapeseed crops were in good or satisfactory condition, compared with about 66 percent at the same time a year earlier, the Hamburg-based researcher said in an e-mailed report released today. Ukraine’s production in the past season was about 1.3 million metric tons, at least 100,000 tons larger than the official forecast, according to Oil World. Limited snow cover may still leave the 2013-14 crop vulnerable to freezes, it said.
“This year the winter rapeseed crop is reportedly in a much better condition than last year,” Oil World said. “This continued to support ideas of a welcome rebound of Ukrainian rapeseed production in 2013-14, considering the reduced world rapeseed stocks at the end this season.”
Ukraine may export 1.2 million tons of rapeseed in the 2012-13 marketing year that began July 1, and more than 1.1 million tons may already have been shipped, Oil World said. Exports “accelerated sharply” in the first 20 days of January, surpassing 100,000 tons, it said. Shipments to the European Union have been steady with the past season, while exports to Turkey and the United Arab Emirates rose, it said.
In Kazakhstan, exports of rapeseed, soybeans and sunflower seed rose to all-time highs last year, Oil World said. A “sharp increase” in linseed shipments also helped boost the country’s total oilseed exports to a record 358,000 tons, more than twice the amount a year earlier, according to the report.
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