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The crop that mainly looks to the West

June 16, 2017 at 8:42 AM , Starry Night Ltd.
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Weather conditions are key for a successful harvest. Output is projected to be lower this year.

Rapeseed is going through its final maturity stage. After barley’s harvest, farmers will start to harvest rapeseed. If the weather allows it, in approximately a two weeks’ period, farmers from the Northeast regions will begin harvesting the crop.

Rapeseed: lower output expected

SOFIA. According to the Ministry of Agriculture, by the end of last week, available acreages for harvest were estimated at 165,280 ha while fallen through plots stood at 20,887 ha. The difference between this year’s to-be-harvested areas and those of last year is 4,065 ha. Although farmers planted larger areas for this season, due to adverse weather conditions during the winter and later in the spring, this year’s aggregate output is expected to be lower. The estimated average yield for harvest 2016-17 was 2.97 mt/ha. As always, favorable weather conditions are paramount for success.

Prices exhibit a downward trend

Since the beginning of the calendar year, exports have been rare and meager at best while domestic trade has been sluggish. Moreover, since beginning of January 2017, average EXW purchasing prices have been sliding on a downward trajectory. However, since the great majority of the crop was exported a few months after the start of harvest 2016-17, the sluggish domestic trade on a monthly basis is too weak to support a stable, if not an increasing, price. Domestic consumption is minimal. Before beginning of harvest, prices are expected to remain low.

Harvest 2016-17

(01.07.2016 - 09.06.2017)

Carry over

70,000 mt

Domestic output

509,251 mt

Imports

33,743 mt

Domestic consumption

76,600 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

0.340

EXW Bulgaria

 

 

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