Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 24 ISSUE 4
Written by Oksana MAKARCHUK, Tetyana KUTS, Oleksandr LABENKO, Oleksandr KUTS

This paper aims to provide analysis of rapeseed market in Ukraine, perspectives and challenges that could appear due to internal and external factors. To conduct purposes in the article, the world and Ukrainian rapeseed markets were evaluated to show the importance of domestic rapeseed market development and growing demand on this crop at external markets. Analysing the rapeseed market during last years in Ukraine, it was noticed that rapeseed production has insignificantly suffered compared to other crops under the actual conditions. During the period of 2022-2023, the following trends were occurred: rapeseed area is expanding, even despite the import ban in neighbouring countries; production reached a volume of 3.5 million tons; rapeseed crushing increased to 21% inside the country compared to 6-10% in previous years; rapeseed oil and meal production and their further exports also increased. Ukrainian rapeseed is oriented to export, of which about 60% goes to the EU countries. The EU demand for rapeseed will grow due to the higher share of energy from renewable sources in gross final energy consumption accounting for 45% by 2030 in the frame of the REPowerEU plan, where demand for biodiesel fuel is projected to upward. In this regard, in the article the rapeseed prices were forecasted to evaluate their change in a short term period under a favourable external rapeseed market conjuncture. Getting results showed the domestic price decrease and at the end of 2024 it could reach 306 US dollar per tonne. The analysis showed that the Ukrainian prices are lower than the EU prices, but Ukrainian price volatility trend follows the EU price trend. However, despite of the uncertainty of country environment at present, it is expected an upward trend in rapeseed prices because of the decline in rapeseed production in the EU countries caused by unfavourable weather conditions and growing demand on rapeseed in biodiesel industry.

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