Rapeseed: competitive prices boost exports

August 14, 2017 at 12:44 PM , Starry Night Ltd.
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Ships are lined-up for uploading. Regional market forces are expected to further push down prices.

SOFIA. Many farmers throughout the North regions have already sold the crop to market intermediary players. Those who are still withholding the crop, demanding higher prices, might quite soon be compelled to accept even lower offers.

Regional market forces influence local prices

Regional market forces have always influenced local prices of grain products, as rapeseed’s prices have been quite sensitive. Ukrainian farmers are already reaching the end of harvest. According to the recent USDA report on World Agricultural Production, Ukraine is forecasted to produce a total of 2.1 mmt of rapeseed, which is higher by 68% than last year’s output. A major threat is looming, with which local farmers will have to reckon.

Competitive prices boost exports

Although this year exports were somewhat belated because of frequent interruptions of the pace of harvest, by the 4th of August, according to the Ministry of Agriculture, exports reached 104,500 mt; as 83,500 mt went to EU member countries while the rest was shipped to countries from the rest of the world.

Harvest 2017-18

(01.07.2017 - 04.08.2017)

Carry over

25,000 mt

Domestic output

447,437 mt

Domestic consumption

8,000 mt

Exports to the world

104,500 mt

 Source: Bulgarian Ministry of Agriculture

Sea exports have recorded a lower turnover rate, as by the end of the first week of August, via Varna seaport, shipments abroad reached only 6,582 mt, which on a yearly basis is a drop of close to 89%. However, sea exports are forecasted to increase substantially because of competitive prices.

 Rapeseed, Bulgaria

Crop

EUR/kg

rapeseed

0.355

EXW Bulgaria

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