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Flaxseed: contrasting trends

April 22, 2020 2:55 PM, Der AUDITOR
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NUR-SULTAN/FRANKFURT. While farmgate prices in the growing countries continue to rise, supply on the European spot market is developing in a different direction.

Traders reduce prices

Early contract release orders for flaxseed deliveries are gradually diminishing. Traders who were at full capacity in April will be able to deliver on desired dates as early as May. This creates a growing price difference on the European spot market. A lack of demand is causing prices to fall for some, while the lack of buying interest in recent weeks has driven up prices for others. Depending on the supplier, prices for brown flaxseed with a 99.9% purity are at a level of EUR 0.59-0.62 per kg DDP Germany.

At the same time, commodity traders in Kazakhstan and Russia have again raised prices this week. The reason for the ongoing trend is still the shrinking stocks. However, it is reported that the outlook for the Kazakh flaxseed crop in 2020 is relatively good.

Flaxseed prices

Quality

EUR/kg

Brown, 99.9%, Eastern Europe, DDP DE

0.590-0.620

Brown, 97%, Kazakhstan, FCA KZ

0.410-0.430

Brown, 97%, Russia, FCA RU

0.430-0.450

Reference prices

Kazakhstan is in trend

According to current data from the European Commission, 715,433 metric tonnes of flaxseed were imported into the EU from third countries last year, around 10% more than in 2018. While exports from Kazakhstan increased by 28% to 372,700 metric tonnes, the import values from Ukraine and Canada are surprisingly high for opposing reasons. Allegedly, 38,549 metric tonnes of flaxseed were exported from the Ukraine in 2019, which would be about as much as the Ukraine has produced in the last two years. At the same time, the figures for shipments from Canada are significantly lower than last year at 17,128 metric tonnes.

Flaxseed imports* into the EU in mt

Country

2018

2019

Diff.

Kazakhstan

290,481

372,700

28.3%

Russia

281,670

277,548

-1.5%

Ukraine

6,125

38,549

529.4%

Canada

56,563

17,128

-69.7%

India

6,626

4,291

-35.2%

Moldova

2,697

1,722

-36.2%

USA

1,399

1,541

10.2%

China

2,056

1,074

-47.8%

Others

3,131

880

-71.9%

Total

650,748

715,433

9.9%

European Commission

12040090 Linseed, whether or not broken (excl. for sowing)

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price chart, flaxseed, brown, 99.9% purity, Eastern Europe
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price chart flaxseed, brown, Eastern Europe

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