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Flaxseed: prices set to decline for new crop

May 6, 2020 11:17 AM, Der AUDITOR
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NUR-SULTAN. As sowing has started unusually early in northern Kazakhstan this will certainly have an impact on flaxseed production.

Two weeks ahead of schedule

Sowing has started more than two weeks early in northern Kazakhstan. This gives the farmers more time to sow and may have an impact on acreage. The new crop is, in addition, expected to arrive two weeks early in the market. By contrast, adverse weather conditions delayed deliveries by up to four weeks last year.

More than 2.23 million metric tonnes

Attractive farmgate prices are expected to prompt an upsurge in sowing in Kazakhstan. However, it should also be noted that average yields may prompt a decline in production over last year. By contrast, production is expected to rise in Russia and in Canada. Kazakhstan, Russia and Canada are expected to produce as much as 2.23 million metric tonnes combined, which is a rise of 85,500 metric tonnes over last year. Prices should, therefore, range much lower than last season. Farmgate prices in Russia and in Kazakhstan may drop below EUR 0.30 per kg EXW, which will most certainly have an impact on market prices in Western Europe.

Top 3 flaxseed producing countries in mt

Country

2018/19

2019/20

2020/21*

Kazakhstan

933,500

1,007,200

850,000

Russia

550,500

651,300

730,000

Canada

492,000

486,000

650,000

Top 3 Total

1,976,000

2,144,500

2,230,000

National statistics offices, Oil World / *estimates

Rumours of price fixing

This week, the FCA prices have declined nominally and EXW prices range EUR 0.37-0.38 per kg in Kazakhstan. Price-fixing rumours are circulating in Kazakhstan. Spot market prices in Europe range at EUR 0.59-0.61 EUR per kg DDP Germany for cleaned flaxseed.

Flaxseed

Quality

EUR/kg

Brown, 99.9%, Eastern Europe, DDP DE

0.59-0.61

Brown, 97%, Kazakhstan, FCA KAZ

0.40

Brown, 97%, Russia, FCA RU

0,41-0,42

Reference prices

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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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