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When the Sun rises from the North

June 23, 2017 at 9:01 AM , Starry Night Ltd.
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Look to the North regions – there you will find the crop; in the South, output will be low, at best!

If the weather does not bring a surprising round of showers, as it did in the end of last week, farmers plan on entering the fields of rapeseed next week.

Rapeseed: geographic division

SOFIA. Farmers in the South regions -- mainly the Southwest and central South -- of the country are already counting the losses. Adverse winter conditions affected the development of the crop while continuous droughts did not allow the formation of the so necessary water reserves in the middle layer of the soil. Since the reasons are crystal clear, the results come as no surprise.

On the other hand, farmers from the North regions expect on average a stronger harvest. Weather conditions in the North favored farmers, and next week, combines are expected to enter fields full of high rapeseed potential. The results will be clear soon!

In the price realm no surprises just before harvest

Remaining stocks are small to be of substantial interest to foreign buyers, and as a result, prices have been flat for some time. No drastic changes in the price of the upcoming crop is expected, at least in the beginning of harvest.  

The country does not produce large quantities of rapeseed and the majority of it is quickly shipped to EU member countries while domestic consumption is small. Exports are expected to start soon after harvest has ended. By the end of last week, remaining quantities stood at 30,623 mt.

Harvest 2016-17

(01.07.2016 - 16.06.2017)

Carry over

70,000 mt

Domestic output

509,251 mt

Imports

33,743 mt

Domestic consumption

78,600 mt

Exports to the world

503,771 mt

   to EU countries

465,266 mt

   to the rest of the world

38,505 mt

 Source: Bulgarian Ministry of Agriculture

  Rapeseed, Bulgaria

 

Crop

EUR/kg

rapeseed

0.337

EXW Bulgaria

 

 

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