Rapeseed prices in Ukraine are rising despite falling canola prices

Published 2024년 6월 25일

Tridge summary

Traders in Ukraine are increasing the purchase prices for rapeseed in anticipation of a large harvest, as they expect a decrease in prices during the new season due to increased competition from processors. The export purchase price has increased by 15-20 $/t to 430-450 $/t. Demand prices for rapeseed in Europe are around 430-440 €/t. In Canada, favorable weather conditions are improving the prospects for canola, but prices are under pressure due to increasing unsold stocks as the harvest approaches. The EU is expected to import an additional 1 mln tonnes of rapeseed to make up for the lack of supplies from Russia and Belarus.

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

Original content

Massive harvesting of rapeseed in Ukraine has not yet begun, but traders who have contracted significant volumes of rapeseed, actively raise purchase prices in ports to accumulate maximum parties, as the decline in the new season will significantly increase competition with processors. During the week, the export purchase price of rapeseed in the ports of the black sea increased by 15-20 $/t to 430-450 $/t or 19000-20400 UAH/t, which corresponds to the level of forward prices and contributes to the intensification of sales by producers. Demand prices for rapeseed with delivery to the Czech Republic and Romania are 430-440 €/t, and to Germany – 440-450 €/t, but deliveries are possible not earlier than September. Spike Brokers experts believe that 600-800 thsd tonnes of rapeseed were sold under forward contracts in Ukraine for delivery in July-January in all export directions. At the same time, domestic processors will not be able to compete with exporters and will have to expect ...

Source: UkrAgroConsult