Oilseed Weekly Market Review July 6th

The Agroanalytic Center has released a weekly report on the oilseed market, highlighting changes in prices and exports of various oilseeds and their products. Between June 25 and July 2, 2020, the ruble / dollar exchange rate saw a decrease of 2.3%. Despite this, the average price for rapeseed remained unchanged, while sunflower and sunflower meal prices dropped by 1.4 and 1.6% respectively. Sunflower oil and soybeans experienced price increases of 0.1 and 0.2%.

Compared to the previous year, there have been significant price increases for rapeseed, soybeans, sunflower seeds, sunflower oil, and sunflower meal by 4.7%, 10.9%, 17.7%, 18.2%, and 25.6% respectively. The most notable increase was seen in sunflower in the Central Federal District, which is currently the most expensive in Russia.

From June 22 to 28, 20.6 thousand tons of sunflower oil and 23.1 thousand tons of sunflower meal were exported, with the main destinations being Afghanistan and Turkey for sunflower oil, and Latvia, Italy, and Turkey for sunflower meal. Since the start of the 2019/20 season, Russia has seen significant exports of oilseeds and their processed products, especially sunflower oil. However, the exports of rapeseed remain significantly lower than the 2018/19 season, showing a decrease of 34.2%.