Oil World (Germany) estimates that the global rapeseed meal exports in the April-June period of this year amounted to 2,47 million tons, an increase of 15% compared to the corresponding period last year.
Thus, the total sales of the product since the beginning of the 2022/23 marketing year reached the record value of 7,4 million tons (+28% compared to the 2021/22 marketing year).
The largest increase was recorded in Canada - rapeseed meal exports recovered significantly to 4 million tons (+0,6 million tons) in the reporting period. Shipments also increased in India (+0,5 million tons), Russia (+0,4 million tons) and the EU (+0,1 million tons).
However, experts point out that global consumption of the product has declined in recent months, which has led to a surplus of this product, limiting refinery profit margins and reducing raw material processing below potential.
Source: oleoscope (Russian)