Production set to slump
On Friday, the Czech Statistical Office issued the official yield and production estimates, which more closely align with market expectations. Poppy seed production will, in fact, range 14.2% lower than last year at 19,000 mt. This is also a 30% decline on the volumes produced in 2021. Traders, in addition, anticipate a production of 19,000-20,000 mt. Harvesting will, in addition, only start in two to three weeks as heavy rains have are causing delays, despite the weather being intitially too dry.
Trading is subdued at present as the