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Flaxseed: revised estimates in Canada

March 8, 2023 at 4:21 PM , Der AUDITOR
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OTTAWA/KYIV. Agriculture and Agri-Food Canada has revised the estimates downwards for flaxseed in 2023/2024. Sowing has started in Ukraine and exports were up in Russia in January.

Defiant producers in Ukraine

Spring sowing is underway in Ukraine's Odesa region as the Department of Agro-Industrial Development of Odesa Oblast has recently announced. Intention is to sow a total area of 726.000 ha, of which flaxseed will account for 15.000 ha, despite the continuing attacks from Russia, which render the situation very dangerous for farmers. The prices for Eastern European flaxseed have declined slightly again.

Flaxseed, Eastern Europe

Quality

EUR/mt

Brown, 99.9%

790

Golden, 99.9%

890

DDP Germany

Trading revives in Canada

As Rayglen Commodities reports trading has revived in Canada and demand has risen. Prices are, however, firm. Importers in China are, curiously, issuing more enquiries, which indicates that they are now buying less in Russia. Agencies, however, state that Russia exported as much as 62,000 mt of flaxseed worth USD 31.1 million in January and that total exports exceeded 380,000 mt for Spetember-January, of which 278,300 mt were shipped to China, followed by 48,900 mt to Belgium and 16,100 mt to Poland.

Agriculture and Agri-Food Canada has, in addition, issued less optimistic estimates for 2023/2024 as the area sown is now estimated at 300,000 ha and production at 420,000 mt. Carry-over supplies will, however, be much higher this season.

Flaxseed, Canada

2021/22

2022/23

Diff.

2022/23

2023/24

Diff.

Area sown (ha)

416,000

315,000

-24.3%

315,000

300,000

-4.8%

Area harvested (ha)

404,000

312,000

-22.8%

312,000

290,000

-7.1%

Yields (mt/ha)

0.83

1.52

83.1%

1.52

1.45

-4.6%

Production (mt)

337,000

473,000

40.4%

473,000

420,000

-11.2%

Imports (mt)

12,000

10,000

-16.7%

10,000

10,000

0.0%

Total supplies (mt)

408,000

565,000

38.5%

565,000

705,000

24.8%

Exports (mt)

219,000

150,000

-31.5%

150,000

400,000

166.7%

Domestic consumption (mt)

107,000

140,000

30.8%

140,000

80,000

-42.9%

Carry-over supplies (mt)

82,000

275,000

235.4%

275,000

225,000

-18.2%

avg price in CAD/mt

1,206

695

-42.4%

695

670

-3.6%

Agriculture and Agri-Food Canada, March 2023

 

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