World: Rape in Europe is becoming more expensive against the backdrop of low yields in Ukraine

Published 2024년 7월 9일

Tridge summary

Ukrainian farmers have harvested 186.9 thousand hectares of rapeseed, yielding 285.9 thousand tons with an average of 1.53 tons per hectare, marking a decrease in yield from the previous year. Despite the increase in prices, driven by a potential rise in Canadian canola supplies and restrictions on Russian and Belarusian rapeseed meal, the high export rates and favorable weather conditions limit the price growth. Canada is ready to deliver an additional 1 million tons of canola to the EU, while Ukraine sees an increase in demand for rapeseed in the Black Sea ports and the EU, with deliveries expected in October or November.

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

Original content

This is reported by GrainTrade. According to the Ministry of Agrarian Policy of Ukraine, on July 4, domestic farmers from 12% of the area, or 186.9 thousand hectares (47.7 thousand hectares last year), harvested 285.9 thousand tons of rapeseed with an average yield of 1.53 tons/ha, then as last year at this time, the yield was 1.81 t/ha. Even the news about the sale of new batches of canola from Canada to the EU did not stop the rise in prices. And based on the price difference of up to $70/ton, the pace of canola supplies will increase. On the Winnipeg exchange, November canola futures rose 1.2% on Friday to CAD 658/t, or $482/t (+6.5% for two weeks), in line with the previous month's level, and so far behind May's 695 CAD/t and the record 770 CAD/t recorded in early September. However, the growth of canola prices is limited by low export rates and favorable weather conditions. According to StatsCan, in the period June 24-30, Canada increased canola exports compared to the ...

Source: AgroPortal.ua