Oilseeds - Oilseeds

Flaxseed: experts estimate global crop at three-year low

December 10, 2021 8:14 AM, Der AUDITOR
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NUR-SULTAN/OTTAWA. The oilseed experts at Oil World have now confirmed what the reports of the past months aready suggested: the global flaxseed crop in 2021/2022 is likely to have achieved the worst result of the past three years.

Oil World estimates total flaxseed production at 3.03 million mt, down from 3.29 million mt in the 2020/2021 season, according to their data. The reason for this deficit is the unfavourable weather conditions, especially heat and drought in the most important growing countries. The resulting lower yields could not be compensated even by the larger area under cultivation. Kazakhstan's flaxseed crop experienced a decline to 744,000 mt, Canadian farmers are reported to have harvested only 346,000 mt. At the same time, Russia is said to have been able to achieve a new record result with 950,000 mt of flaxseed, and according to Oil World, a slight increase in production is also noticeable in the EU.

Possible start to a downward trend

In line with these results, flaxseed prices are still at their record high, although Eastern European flaxseed has already seen the first price corrections. In Canada, too, the lack of demand is putting pressure on prices and the experts at Rayglen Commodities confirm that at the already absurdly high price level it will be difficult for the market to drive prices up again.

Flaxseed, Eastern Europe

Quality

EUR/mt

Brown, 99.9%, FCA Poland

1,000

Golden, 99.9%, FCA Poland

1,100

Brown, 97%, FCA Poland

800

Organic, golden, 98%, DDP Rotterdam

1,750

Trade sources

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