Prices on the move

July 14, 2017 at 3:03 PM , Starry Night Ltd.
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The belated start of harvest and the lower projected output support prices. The results from the expected rains could further influence the price.

Rapeseed: harvest is slowly advancing in the season

SOFIA. According to the Agricultural Ministry, by the first week of July 2017, farmers harvested only 19% of total available land for harvest, which this year stands at 164,643 ha. So far in the season, the average estimated yield is 2.8 mt/ha.

At the start of harvest, before the heavy rains and hailstorms hit in the beginning of the month, farmers in the North and central regions of the country expected higher yields than what they had recorded last year. However, after the storms hit, the difference between last year’s yield and the currently estimated one is already explained as the realized loss from the consequences of the recent storms.

More rains are expected in the upcoming days, before auspicious weather settles on for longer. Yet, depending on the intensity of the rains, projected output could be further downgraded; as currently, the country expects a national output of about 460,00mt.

Market developments

According to the Ministry of Agriculture, by the 7th of July 2017, although harvest lags by as much as 67.7% on a yearly basis, farmers managed to collect 87,243 mt of the crop. No exports were registered while domestic consumption is minor.

Harvest 2017-18

(01.07.2017 - 07.07.2017)

Carry over

25,000 mt

Domestic output

87,243 mt

Domestic consumption

1,600 mt

Exports to the world

0 mt

 Source: Bulgarian Ministry of Agriculture

 In the realm of prices, rapeseed seems to be soaring along an upward moving trend. By the end of harvest, farmers are already forecasting higher prices.

 Rapeseed, Bulgaria

Crop

EUR/kg

rapeseed

0.348

EXW Bulgaria

 

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