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Flaxseed: higher yields anticipated

June 9, 2022 11:23 AM, Der AUDITOR
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OTTAWA. Although the area sown with flaxseed has declined in Canada this year, the sharp rise in yields will compensate for this. Buyers have found a good alternative for Russia. Unstable market conditions prevail in Europe.

Yields to drive up supplies

Agriculture and Agri-Food Canada is highly optimistic that the sharp rise in yields will compensate for the decline in sowing in 2022/2023. While yields are expected to range 16% lower at 351,000 ha, yields should range 57% higher than last year at 1.35 mt/ha and drive up production by 35% to 466,000 mt. Although carry-overs are set to decline by 41% this season, total supplies will range 51% higher at 625,000 mt in 2022/2023.

Flaxseed, Canada

2020/21

2021/22

Diff.

2021/22

2022/23

Diff.

Area sown (ha)

377,000

416,000

10.3%

416.,000

351,000

-15.6%

Area harvested (ha)

371,000

404,000

8.9%

404,000

344,000

-14.9%

Yields (mt/ha)

1.56

0.86

-44.9%

0.86

1.35

57.0%

Production (mt)

578,000

346,000

-40.1%

346,000

466,000

34.7%

Imports (mt)

26,000

10,000

-61.5%

10,000

10,000

0.0%

Total supplies (mt)

667,000

415,000

-37.8%

415,000

625,000

50.6%

Exports (mt)

505,000

300,000

-40.6%

285,000

385,000

35.1%

Domestic consumption (mt)

103,000

80,000

-22.3%

100,000

76,000

-24.0%

Carry-over supplies (mt)

59,000

35,000

-40.7%

35,000

45,000

28.6%

Avg price in CAD/mt

693

1,250

80.4%

1,250

1,100

-12.0%

Agriculture and Agri-Food Canada

Kazakhstan fills the gap

Prices are far from stable for flaxseed at present as Rayglen Commodities reports. Kazakhstan has successfully filled any gaps left by Russia, after the brutal attacks on Ukraine, so far and China has sufficient supplies at its disposal. Shipments from Kazakhstan to Germany, by contrast, declined by 20% to 16,498 mt between September and March as compared with the same period in 2020/2021. The country mainly relies on imports from Russia, which rose by 10.7% to 24,510 mt in the same period. Total flaxseed shipments to Germany, however, declined by 17.2% to 71,903 mt as recently issued data by the Federal Statistical Office of Germany shows. Shipments from Canada even slumped by 58.9% to 4,996 mt. European spot market prices have declined nominally this week. The prices for brown flaxseed from Ukraine, for instance, range at EUR 1.12/kg (USD 1.20/kg) FCA Poland.

Flaxseed, Ukraine

Quality

EUR/mt

Brown, 99.9% purity

1,120

Golden, 99.9% purity

1,410

FCA Poland, big bags

 

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