News

Canadian canola can compete with Ukrainian rapeseed on the EU market — analysts

Rape Leaves
Ukraine
Regulation & Compliances
Market & Price Trends
Published Feb 22, 2024

Tridge summary

Polish farmers' blockade of the border has significantly reduced the supply of Ukrainian rapeseed to Germany and the Baltic countries, causing a decrease in Ukrainian rapeseed prices. Meanwhile, European rapeseed quotations have risen by 2% due to these supply constraints. However, these are under threat from falling canola prices in Canada, which could lead to increased Canadian supplies to the EU, thereby intensifying competition with Australian and Ukrainian rapeseed in the European market.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The blocking of the border by Polish farmers almost stopped the already insignificant supplies of rapeseed from Ukraine to Germany or the Baltic countries. This is reported by GrainTrade. As noted, as a result, rapeseed prices in the western regions of Ukraine decreased from 15,300-15,500 hryvnias/t per FCA farm, which were a few weeks ago, to the current 14,700-15,000 hryvnias/t, while prices in ports fell to 16,000-16,200 UAH/t or $370/t. "European rapeseed quotations increased by 2% during the week against the background of restrictions on supplies from Ukraine, but they are under pressure from a decrease in canola prices in Canada. May rapeseed futures on the Paris MATIF during the week rose by 1.9% to €426.75/t or $459.5/t (-1.6% for the month), but remain at a low level,” it says in the message. Analysts also note that March canola futures on the Winnipeg exchange fell 5.8% last week, but rose 2% on Friday, following lower prices for soybeans and soybean oil used in the ...
Source: Superagronom
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