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Flaxseed: shift in demand

May 5, 2021 11:53 AM, Der AUDITOR
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NUR-SULTAN/OTTOWA. Recently released export data in Kazakhstan shows a sustained shift in the flaxseed market. Buyers in the EU are certainly more interested in purchasing supplies elsewhere. Attention is also shifting more towards this year’s crop.

Sharp decline in exports

As APK-Inform reports flaxseed exports from Kazakhstan declined by nearly 20% in September to February 2020/2021. While exports still ranged at 324,600 mt in the same period in 2019/2020, they fell to 262,400 mt in 2020/2021. Shipments to Europe most notably slumped by nearly 35% to as little as 139,000 mt. It should be noted that annual exports from Kazakhstan to the EU already declined by 23.5% to 285,290 mt in 2020 according to the European Commission. Canada stepped in to fill the gap as shipments to the EU rose manifold to 143,756 mt in 2020. The figures recently released in Kazakhstan show that the decline in demand in Europe is more pronounced this year so far. Shipments from Kazakhstan to Russia also slumped by nearly 56% to 11,200 mt in 2020/2021. Exports to China are, by contrast, 28% up at 85,400 mt.

Demand for last year’s crop levels off

Although last year’s crop is still being sold in Canada, demand has started to level off. According to Rayglen Commodities, the new crop is trading in a relatively high range of CAD 16.00-16.75/bu FOB Canada. Trading is rather subdued in Kazakhstan and prices have remained firm.

Flaxseed, Eastern Europe

Quality

EUR/mt

Brown, 99.9%, DDP Germany

820

Golden, 99.9%, DDP Germany

850

Trade sources

 

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