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Rapeseed: Focus is the EU market

December 1, 2017 at 2:04 PM , Starry Night Ltd.
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SOFIA. Sudden jumps in export activities fade away fast on the background of surplus quantities in the region.

BULGARIA. Rapeseed is the only locally grown crop that commands the highest relative export turnover ratio, based on aggregate production alone, in comparison with these of its counterparts such as wheat, barley, etc. For instance, by the 24th of November 2017, the country has exported 84.34% of its national output from harvest 2017-18. Such a high turnover ratio should send a crystal clear signal to local farmers that the more they harvest, the more they could sell. 

Rapeseed: regional competition matters

Annually, imports of rapeseed are generally limited, for instance, during season 2016-17, imports reached 70,000 mt. Since the local rapeseed refining oil sector bites a small portion of national output on a yearly basis, almost all local production is shipped abroad, with the markets of the Union being the main shipment destinations. Usually, locally grown rapeseed is exported to Belgium, Germany and France among other EU members. Exports to countries outside of the EU market are usually in smaller quantities.

      Harvest 2017-18

(01.07.2017 - 24.11.2017)

           units in MT

Beginning availability

25,000

Aggregate output

458,110

Imports

27,655

Domestic consumption

33,600

   oil & biodiesel production

33,600

Exports to the world

386,561

   to EU markets

365,265

   to rest of the world

21,296

Source: Bulgarian Ministry of Agriculture

However, this marketing season, the turnover rate has been weaker if compared to that of last year, and local market players used to point a finger at the higher availability of rapeseed within the Black sea region. A case in point, by the 24th of November 2017, the country shipped to the world 386,561 mt while by that time last year, exports reached 465,766 mt. Some say the wind blows from Ukraine, and its currents are quite strong this season. Anyhow, Bulgarian harvest 2017-18 was weaker than that during the previous year, which came to an aggregate output of 493,157 mt, and as a result, in addition to the surplus availability in the region, this year’s export rate is unfolding at a slower rate.

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