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Rapeseed: Higher regional supply will further influence prices

August 31, 2017 at 8:46 AM , Starry Night Ltd.
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The bumper output in Ukraine will influence regional exported volumes. Time to plant Winter rapeseed.

SOFIA. Usually from about the last week of August till the end of the second ten-days period of September, Winter rapeseed is planted. At such a period, weather conditions are crucial. Dry weather could negatively affect the growth of the crop. However, next week, the weather forecast is for occasional rains throughout the country, which are expected to guarantee a normal preliminary growth of these crops, which will have been just planted by that time.

Rapeseed: exports fluctuate on a weekly basis

While domestic consumption is meager on a weekly basis, exports are attuned to competitive market pressure. Last week, according to the Ministry of Agriculture, shipments to EU member countries increased by 48,000 mt, as all of them left the country via Varna sea port. Rapeseed shipments abroad via Burgas seaport has not yet been registered.

Harvest 2017-18

(01.07.2017 - 25.08.2017)

Carry over

25,000 mt

Domestic output

458,005 mt

Domestic consumption

12,800 mt

Exports to the world

189,026 mt

Source: Bulgarian Ministry of Agriculture

So far in the marketing season, local selling parties expected exports’ turnover rate to have been higher. On a year-to-year basis, this year’s shipments to foreign countries via Varna sea port lag by close to 56%. It is not because of the belated end of the recent harvest; it is competitive prices in the region that put downward pressure on local ones, which consequently influence export activities.

Ukraine is reaching its end of rapeseed harvest and has already realized a bumper crop this season. The much higher output will result in higher supply of rapeseed in the region!

 Rapeseed, Bulgaria

Crop

EUR/kg

rapeseed

0.348

EXW Bulgaria

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