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Rapeseed: Prices gather support

July 20, 2017 at 2:52 PM , Starry Night Ltd.
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Favorable weather conditions permit farmers to harvest the last remaining acreages. The projected lower output seems to support prices.

Rapeseed: harvest is reaching its end

SOFIA. The recent dry weather has allowed farmers to harvest the crop on a mass scale. In some regions, rapeseed has been already harvested a week/two ago; in others, the harvesting season still continues.

According to the Ministry of Agriculture, by the 13th of July 2017, farmers harvested 58% of total available land for harvest, totaling an area on a national level of about 163,965 ha. If compared on a yearly basis, this season’s harvest lags behind that of the previous one by about 35.4%. Unexpected and occasional rains belated and subsequently interrupted the harvesting season while hailstorms definitely took its toll. However, the forecast for the upcoming several days is for dry weather, which will favor the final collection of the crop.

Market developments

Currently, the price of rapeseed is getting an upward push because all market participants expect a lower seasonal output. Exports have already been recorded as all of them went to EU member countries.   

Harvest 2017-18

(01.07.2017 - 14.07.2017)

Carry over

25,000 mt

Domestic output

263,908 mt

Domestic consumption

3,200 mt

Exports to the world

47,000 mt

 Source: Bulgarian Ministry of Agriculture

Many farmers from the Northeast – the so called Golden Dobruja region – recorded high yields and thus collected higher outputs this season. After taking samples, some of them recorded an oil content of rapeseed of about 44.8%. Such farmers sell the crop at 0.383 EUR/kg EXW Bulgaria.

 Rapeseed, Bulgaria

Crop

EUR/kg

rapeseed

0.360

EXW Bulgaria

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