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Flaxseed: Canadian traders hope to gain market share

July 24, 2024 at 9:20 AM , Der AUDITOR
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ASTANA/OTTAWA. The introduction of import duties on agricultural products from Russia and Belarus continues to cause uncertainty in the flaxseed market. Meanwhile, Germany has almost doubled its flaxseed imports from Russia.

Price development still unclear

Market players are observing developments in the flaxseed market with growing scepticism. Since 1 July 2024, a 10% import duty has been levied on flaxseed imports from Russia and Belarus into the EU. At the end of this calendar year, the rate will increase to 20%. This could also prompt some traders who source their flaxseed elsewhere to raise their prices in order to benefit from the higher level – because the EU will not be able to completely meet its demand without flaxseed imports from Russia.

Some traders are certai

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