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Blue poppy seeds: speculative price indications for the new crop

June 17, 2020 3:01 PM, Der AUDITOR
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CHRUDIM/ANKARA. Spot prices on the Czech blue poppy seed market are losing support and the first traders are venturing into speculative offers for the new crop.

Rainfall remains moderate

After the rainy May, June also brings a high precipitation rate to parts of the Czech Republic. However, much of the rainfall came down on populated areas, while there was moderate precipitation in the growing regions. Occasionally, some areas can even be described as rather dry, but not to the extent that the yield should suffer. So everything still speaks for an above-average blue poppy seed crop of around 30,000 metric tonnes.

Price indications for the new crop

Czech farmers and traders are nevertheless holding back with offers for the new crop, they want to at least wait for the flowering to begin in the coming days before they rush to lower prices. However, this does not prevent other market players from entering the market with speculative price indications. At EUR 2.15-2.20 per kg DDP Germany, these offers are well below current market prices, and at least the downward trend fits the current state of the harvest.

Spot prices down slightly

Meanwhile, the prices for spot offers are currently at a level of EUR 2.65-2.70 per kg FCA Czech Republic and thus slightly below the level of last week. Market players report that farmers should still have sufficient farmgate goods to meet the current demand. However, large quantities, which could cause price pressure in the coming season, are not expected.

Blue poppy seeds

Type

Price

Czech Republic, <10 ppm morphine, DDP DE

EUR 2.70/kg

Turkey, <20 ppm morphine, CFR Hamburg

USD 3.35/kg

Trade sources

Turkey is waiting for the Czech Republic

The Turkish blue poppy seed market also remains quiet and prices are holding the level of the past weeks. According to market players, the new crop is developing well, but there should be less blue poppy seeds than last year. Instead, more white poppy seeds has been grown. Bids for the new crop are not yet being made as Czech prices are an important indicator for traders in Turkey.

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