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Rapeseed: stronger demand is required to push prices up

August 24, 2017 at 4:02 PM , Starry Night Ltd.
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Logistical and storage problems will compel local farmers to sell.

Rapeseed: to sell or not to sell

SOFIA. In the short-term, there seems to be no reason for prices to strengthen for a longer period of time, discounting the usual daily fluctuations. In the long-term, to be competitive within the Black sea basin, export-oriented players will definitely take into account the price beat of the regional market, which is forecasted to remain on the ebb side rather than on the upper one.

The harvest of sunflower has already started in the South regions while that of corn will start in a few weeks, depending on the weather and regions, sometime in September. As a result, storage and logistical problems for farmers will definitely emerge and the smaller market players will feel pressure to upload their storage facilities to free up space for the new crops. Although, the general spirit is to withhold the crop for a higher price, many farmers already fulfilled their contracts to intermediary market participants and sold out completely.

Weather conditions affected aggregate output

Adverse weather conditions throughout the year were the main culprits for cutting down this year’s output, reducing the potential of the yield to 2.85 mt/ha. According to the Ministry of Agriculture, by the 17th of August 2017, aggregate output was estimated to stand at 458,005 mt, which on a year-to-year basis is lower by 11.20%. Exports fluctuate on a weekly basis, adding to the spicy feelings among local market players.

Rapeseed, Bulgaria

Crop

EUR/kg

rapeseed

0.350

EXW Bulgaria

 

 

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