The EU countries imported 231,000 tonnes of rapeseed from Moldova in 2023-2024 or 7.6% (compared to 1.6% a year before). Thus, Moldova ranked third among countries exporting rapeseed to the EU, after Ukraine and Australia, IPN reports, with reference to Iurie Rija, executive director of “Agrocereale” Association of Exporters and Importers of Agricultural and Grain Products.
The largest quantity of rapeseed was exported to Romania – 195,800 tonne, an almost threefold increase compared to the previous season.
Rapeseed prices in the Black Sea region remain constant. For Ukraine, the level is US$365-380 per tonne with delivery to Black Sea ports, and US$398-400 per tonne under DAP Constanta delivery terms. The absence of competition and the possibility of exporting to the EU by road allow traders to purchase the necessary consignments at the port. However, most international and domestic traders are ending their rapeseed export programs so that the demand for this crop has declined and there is no hope for a price increase in the near future.
The average export price in 2023 was 7.74 lei/kg, which is practically half lower than the average price in 2022 (14.06 lei/kg). In the first half of January 2024, the average export price of rapeseed increased to 8.10 lei/kg. According to Iurie Rija, the demand exists, but the supply diminishes and this causes the trading value to rise.
The augmentation of the areas sown with this oilseed crop is an important factor that led to a higher rapeseed harvest in Moldova in the 2023-2024 season is. Iurie Rija considers that Moldovan farmers chose to sow more rapeseed due to the higher profitability of this oilseed crop, compared to traditional cereals, at a production cost of 16,500-17,000 lei/hectare. The gross margin for rapeseed the current season varies between 10% and 20%.
