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Rapeseed: The crop is literary sold out

November 15, 2016 at 11:15 AM , Der AUDITOR
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SOFIA. Production in Bulgaria has increased significantly. It seems as if demand could hardly be higher. But why is this the case?

The future seems quite prosperous
This year’s crop produced 493.160 mt of rapeseed, which is substantial 20% year-on-year increase. Sowing may only have increased by 2.1% to 165,314 ha, but this nevertheless marks a potential turning point. Market participants a reckoning with a massive campaign for cultivating more and more arable land. The driving forces are the relatively high prices and the huge export demand.

Complete sellout
Last week estimated exports stood close to 465,770 mt, which represents 94.45% of total domestic production. This year’s crop has literary been sold out. Bulgaria mainly sells to other European countries and only smaller quantities to the countries further afield. Currently, rapeseed is trading for 0.358 EUR/kg CPT domestic port.

 

Rapeseed, Bulgaria

Type

EUR/kg

rapeseed

0.358

CPT domestic port

 

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