Flaxseed: drastic correction of production estimates
May 28, 2020 at 1:24 PM ,
Der AUDITOR
Flaxseed prices continue to increase
Estimates state that 80% of Kazakhstan's flaxseed area has been sown so far and above-average rainfall benefits the plants. Despite high expectations, farmgate suppliers are reacting with rising prices. Spot purchases can be made at the origin for EUR 0.44-0.48 per kg FCA. For the period from mid-June to mid-August, before the new crop should arrive, offers are even at EUR 0.48-0.50 per kg FCA. On the European spot market, traders have also raised their prices for cleaned flaxseed to EUR 0.62-0.64 per kg DDP Germany.
|
Flaxseed |
|
|
Quality |
EUR/kg |
|
Brown, 99.9%, Eastern Europe, DDP DE |
0.620-0.640 |
|
Brown, 97%, Kazakhstan, FCA KZ |
0.440-0.450 |
|
Brown, 97%, Russia, FCA RU |
0.470-0.480 |
|
Brown, 99.9%, Canada, FCA Manitoba |
0.365 |
|
Reference prices |
|
Canada reduces production growth
Due to high soil moisture, there were massive delays in sowing for the 2020 flaxseed crop in the Canadian growing regions. Now Agriculture and Agri-Food Canada has reduced the cultivation forecast for the 2020/2021 season by 15% to 381,000 ha compared to the April report, which would be somewhat equivalent to the area of last year. With an average yield per hectare, the production result could nevertheless be around 9% higher. As in previous years, the export volume is estimated at 500,000 metric tonnes, which recently turned out to be far too optimistic. As a rule, downward corrections are expected in the course of the year.
|
Flaxseed, Canada |
2018/19 vs. 2019/20 |
2019/20 vs. 2020/21 |
||||
|
Sown |
347,000 |
379,000 |
9.2% |
379,000 |
381,000 |
0.5% |
|
Harvested |
342,000 |
339,000 |
-0.9% |
339,000 |
355,000 |
4.7% |
|
Yield (mt/ha) |
1.44 |
1.43 |
-0.7% |
1.43 |
1.50 |
4.9% |
|
Production |
492,000 |
486,000 |
-1.2% |
486,000 |
530,000 |
9.1% |
|
Imports |
9,000 |
15,000 |
66.7% |
15,000 |
10,000 |
-33.3% |
|
Total stocks |
628,000 |
561,000 |
-10.7% |
561,000 |
610,000 |
8.7% |
|
Exports |
468,000 |
350,000 |
-25.2% |
350,000 |
500,000 |
42.9% |
|
Domestic consumption |
100,000 |
141,000 |
41.0% |
141,000 |
40,000 |
-71.6% |
|
Overstock supplies |
60,000 |
70,000 |
16.7% |
70,000 |
70,000 |
0.0% |
|
Avg. price in CAD/mt |
496 |
525 |
5.8% |
525 |
510 |
-2.9% |
|
Agriculture and Agri-Food Canada |
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- price chart, flaxseed, brown, 99.9% purity, Eastern Europe
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