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Belarus: BUCE predicts growth in export prices for rapeseed oil

Crude Canola Oil & Rapeseed Oil
Belarus
Published Feb 15, 2022

Tridge summary

02/14/2022 Rapeseed oil has once again topped the top three most demanded products of the agricultural group, the press service of the Belarusian Universal Commodity Exchange reported. In January 2022, this commodity item accounted for 46 percent of the total exchange exports of agricultural products. At the same time, despite some price fluctuations in the first decade of January, the cost of rapeseed oil remained stable.

Original content

In early February, it almost returned to the values of the end of December 2021. Foreign buyers now pay an average of 1,250 euros for a ton of unrefined oil of brand P on the terms of DAP delivery to the border of the Republic of Belarus. However, according to BUCE analysts, under the influence of external conditions, export quotations may increase in the coming weeks: -- The main consumers of Belarusian rapeseed oil are European countries. Last year, due to the low crop yield, the largest producers - Great Britain, Germany and France - formed a significant shortage of raw materials. As a result, prices almost doubled, which Belarusian processors took advantage of. They increased their export deliveries through the stock exchange to almost 54 thousand tons. This year, the situation may repeat itself. For example, an increase in demand for rapeseed oil from companies from Lithuania, Switzerland and Estonia is already being recorded. This is largely due to record high oil prices and ...
Source: Oilbranch
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