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Prices strengthened

July 7, 2017 at 7:37 AM , Starry Night Ltd.
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The forecasted lower output and the recent hailstorms supported prices.

Rapeseed: projected lower output

SOFIA. This year’s output could be as much as 10% to 15% lower than that of last year, which stood at 509,251 mt. The reason: fallen through plots because of unfavorable weather conditions during the Winter and Spring in some regions – mainly in the South – of the country. As a result, according to the Ministry of Agriculture, this year farmers are harvesting 163 683 ha, although initially planted arable land stood at 186,167 ha. By the end of June 2017, according to the Ministry of Agriculture, average yield of current harvest stood at 2.8 mt/ha

Harvest 2016-17

(01.07.2016 - 30.06.2017)

Carry over

70,000 mt

Domestic output

509,251 mt

Imports

33,743 mt

Domestic consumption

82,600 mt

Exports to the world

505,371 mt

   to EU countries

465,866 mt

   to the rest of the world

39,505 mt

Source: Bulgarian Ministry of Agriculture

The recent hailstorms damaged cultivated rapeseed fields, but their impacts were confined to specific areas in some regions. Anyhow, their negative effects in some fields reached as much as 100% loss.

Prices have strengthened

Although still in harvest, farmers have increased prices of rapeseed harvest 2017-18, disregarding the general market pulse from a week ago. The projected lower output, together with the negative impacts of the recent hailstorms in some areas, supported an increase in the price of the crop. The final estimates from the impacts of the hailstorms have not yet been fully estimated but at places they reach 40% of total arable land while in others – 100%.

 Rapeseed, Bulgaria

Crop

EUR/kg

rapeseed

0.344

EXW Bulgaria

 

 

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