Grains - Grains

Buckwheat: China reduces acreage

June 23, 2021 at 2:18 PM, Der AUDITOR
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BEIJING. The comparatively low demand is not without consequences for the Chinese buckwheat market. Despite the suppliers' restraint tactics, rising prices are not on the cards for the time being and the acreage has been reduced compared to last year.

Exporters hope for firm prices

As market players report, traders are holding back good quality raw materials, plus there is the temporary export ban from Russia and other member states of the Eurasian Economic Union. Nevertheless, prices are stable, with offers for Chinese organic buckwheat stabilising at a level of USD 1,420/mt FOB Dalian, while conventional buckwheat is trading for USD 1,240/mt FOB. This is due to the lack of demand from within China and overseas. According to further reports, China's acreage this year is 5-8% smaller

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