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Blue poppy seeds: Buyers still prefer to wait

February 17, 2017 at 12:16 PM , Der AUDITOR
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PRAGUE. Abundant supplies and comparatively low prices should actually attract buyers. But different rules apparently apply in the Czech Republic.

Stable market

Market activities are currently rather subdued and the prices have remained on a stable level of 1.20-1.24 EUR/kg DDP Germany over the last three months. Some traders are blaming the lack of export demand for this situation.

One year ago, matters looked completely different since prices started to tumble in January. It is very well possible that the buyers are hoping for a similar event to take place this year. But it is highly unlikely that the current market situation will drive them much lower than they already are.

 

Blue poppy seeds, Czech Republic

10 year average

EUR/mt

current, 15.02.2017

1,220

high, 24.03.2008

4,300

low, 04.05.2009

750

average

1,792

DDP Germany

 

Sowing will have a considerable impact

The prices should remain stable for now. But as soon as sowing becomes an issue the situation is set to change. Market participants reckon that given the current circumstances it is highly unlikely that acreage will be equally large as in the last three years. If the yields also prove to be lower the prices could rise very quickly again.

Please find attached the price chart.

Attached Files

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Blue poppy seed price chart

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