Next season, Bulgaria may see another reduction in the area under rapeseed

Published 2023년 11월 1일

Tridge summary

The text discusses the negative outlook for the rapeseed market, with a forecasted decrease in harvest and sown area, leading to a reduction in exports and domestic processing. The import ban on rapeseed from Ukraine in Bulgaria did not have a significant impact, as an increase in imports from Belgium compensated for the reduction in Bulgarian harvest. The market is expected to focus on EU countries, but current trade prices are lower than last year, which decreases farmers' interest in growing rapeseed.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

— gross rapeseed harvest (-15% by 2021/22 MY) — growth of sown area by 7% with low yields (-20% by 2021/22 MY) — a reduction in harvest leads to a decrease in exports of rapeseed and rapeseed oil — increase in rapeseed imports (July-January): From April 24, 2023, the season took place under a Bulgarian ban on the import of rapeseed from Ukraine, but did not have a significant impact due to: — traditionally, the second half of the season on the rapeseed market is weakly active — the reduction in rapeseed harvest in Bulgaria was compensated by an increase in imports — a significant increase in supplies occurred not only from Ukraine, but also from Belgium. — pressure on Bulgarian prices was largely exerted by European trade trends. — assessment of rapeseed yield taking into account operational data on harvesting (-22% by 2022/23 MY) — a reduction in the rapeseed harvest in Bulgaria will lead to a decrease in its exports and the volume of domestic processing — the market will ...

Source: Zol