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Flaxseed: Canada is being checkmated

May 16, 2017 at 12:12 PM , Der AUDITOR
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OTTAWA/ASTANA. For the second year in a row now, more flaxseed was produced in Russia and Kazakhstan than in Canada, causing Eastern Europe to gain relevance in the international market.

North America playing second fiddle

According to StatsCan, almost 1.12 million acres have been sown in Canada. Although the acreage is 19% larger than last year, it is far from reaching the values of 2014 and 2015, when farmers cultivated flaxseed on around 1.6 million acres of land. Together with the US flaxseed production, about 800,000 mt of flaxseed will be harvested in North America in 2017.

Altogether in Russia and the Ukraine, an average of 1.3 million acres were sown with flaxseed in the last three years. Market observers are currently assuming slightly smaller acreages than in 2016, which would also lead to a slightly smaller crop with normal yields.

The prices for flaxseed from Eastern Europe are stable, but a rise in prices cannot be ruled out during the summer months due to the steady depletion of the stocks. 

 

Flaxseed, brown

Quality

EUR/mt

99.9% purity, DDP Germany

500

Raw seeds, FCA Russia

325

Raw seeds, FCA Kazakhstan

300

 

Attached Files

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flaxseed brown price chart

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