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Blue poppy seeds: traders refrain from speculations

April 8, 2020 9:38 AM, Der AUDITOR
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CHRUDIM. Sowing has been completed in the Czech Republic. Although prospects are encouraging, traders refuse to speculate on production.

Sowing is complete

Due to a good production and relatively stable prices the blue poppy seed market was able to reap good profits in the Czech Republic this season. Market players reckon that acreage should, therefore, be similar in size to last year. Soil moisture and ideal weather conditions also provide for ideal growing. According to the Czech Statistical Office, around 24,344 metric tonnes of poppy seeds were harvested last year on 35,800 hectares. Although sowing has been completed, official estimates are still to be issued.

Blue poppy seed production, Czech Republic

Year

ha

mt/ha

mt

2015

32,650

0.82

26,891

2016

35,543

0.80

28,574

2017

32,586

0.65

21,180

2018

26,608

0.52

13,778

2019

35,800

0.68

24,344

Czech Statistical Office

Speculations are limited

Since trading is laregly subdued, traders are not really refilling their stocks. Reference prices currently range at EUR 2.74 per kg DDP Germany for spot purchases. Suppliers are still refraining from providing offer for the new crop to minimise the risk of unnecessary losses. In 2018/2019, prices had doubled due a slump in production and surged to a record of EUR 4.50 per kg DDP Germany.

Blue poppy seeds

Variety

Price

Czech Republic, <10 ppm morphine, FCA CZ

EUR 2.70/kg

Turkey, <20 ppm morphine, FOB Izmir

USD 3.33/kg

Trade sources

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price chart blue poppy seeds Turkey

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