Flaxseed: revised estimates in Canada
March 8, 2023 at 4:21 PM ,
Der AUDITOR
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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- price chart, flaxseed, brown, 99.9% purity, Eastern Europe
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