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Flaxseed: spring festival and Covid-19 hamper trade

March 26, 2020 10:01 AM, Der AUDITOR
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NUR-SULTAN. As Kazakhstan celebrates Nauryz, which marks the beginning of spring, and measures have been introduced to contain the spread of the coronavirus the market has come to a standstill. Prices remain largely stable.

State of emergency in Kazakhstan

Trading has been largely subdued in Kazakhstan over the last few days as the country celebrated Nauryz from Saturday to Wednesday. Although the actual holiday is celebrated on 21 March, trading activities were only fully resumed on 26 March. At present, all staff who are able to do so work from home. The government declared a state of emergency last week, which has a far-reaching impact on trading activities.

Export bans

Some food exports have been banned to ensure domestic supplies. These bans apply to sunflower seeds and oil, flour and vegetables, such as potatoes and beets. Oilseeds ,such as flaxseed and rapeseed are exempt. There are long traffic jams at the borders to Russia, China and Uzbekistan that reach up to 6-t miles. Shipments are running late as strict medical checks are in place. Flaxseed is mainly trading in stable range. Nominal rises have, however, been observed in the European spot market prices for cleaned brown flaxseed, which range at EUR 0.58-0.62 per kg DDP Germany.

Flaxseed prices

Quality

EUR/kg

Brown, 99.9%, Eastern Europe, DDP DE

0.580-0.620

Brown, 97-98%, Eastern Europe, DDP DE

0.510-0.530

Brown, 97%, Kazakhstan, EXW KAZ

0.340-0.350

Golden, 97%, Kazakhstan, EXW KAZ

0.495

Brown, 99.95%, Canada, CIF Rotterdam

0.587

Brown, 97%, Canada, CFR Hamburg

0.532

Reference prices

 

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