Rapeseed: Exports follow a sine curve, steep at both ends

October 20, 2017 at 5:05 PM , Starry Night Ltd.
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SOFIA. High export activities have been sporadic so far in the marketing season. Remaining stocks are quickly going down.

BULGARIA. Final estimates, released by the Ministry of Agriculture, place this year’s aggregate output at a lower scale – 459,002 mt because of adverse weather conditions before and during harvest. Last year’s production stood at 509,251 mt. The negative impact was mainly experienced by farmers within the South regions while in the North, overall farmers realized higher outputs with much higher quality characteristics of the crop.

Rapeseed: Peaks and lows; peaks and lows

The export pattern of rapeseed so far in the marketing season has been unfailing. A sine curve with steep peaks and deep lows where the former alternate with the latter since the beginning of the marketing season. By the end of last week, remaining stocks stood at 134,194 mt, according to the Ministry of Agriculture.

Harvest 2017-18

(01.07.2017 - 13.10.2017)

Beg. availability, incl. carry over & imports

  510, 755 mt

Domestic consumption

24,000 mt

Exports to the world

352,561 mt

   to EU markets

331,265 mt

   to rest of the world

21,296 mt

Source: Bulgarian Ministry of Agriculture

Imports have always been small on a yearly basis, reaching 33,743 mt during last season; rapeseed refining is not widespread throughout the country at all, rather it is locally confined. As a result, domestic consumption has always been stable, on a weekly basis reaching a few metric tons, at best.

Farmers grow the crop mainly to export to foreign markets -- with the EU countries being the focus -- via intermediary selling market players since the return on investment in rapeseed is much higher in comparison with that of other locally grown grains. As a result, sowed acreages of rapeseed are expected to climb annually for the years to come.

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