Ukraine: Canola prices stuck in anticipation of a seasonal correction

Published 2024년 6월 17일

Tridge summary

The demand for sunflowers from processing plants is decreasing as they prepare for the rape season, leading to a drop in sunflower prices to UAH 19-20 thousand with VAT or $410-430 without VAT, and new harvest prices to UAH 17-18 thousand with VAT or $368-390 without VAT. Prices for sunflower and oil vary by region, with specific rates for DAP Ukraine, Bulgaria, and CIF Bulgaria. Canola prices remain stable, with active European logistics trading for September and October. COCERAL forecasts a decrease in the European rape crop for 2024 to 18.5 million tons, while the profitability of oil crops has been improving since early 2024.

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

Original content

Demand from processing plants is decreasing due to cleaning and preparation for the rape season. This is reported by Spike Brokers analysts. The latest sunflower prices were traded in the range of UAH 19-20 thousand with VAT or $410-430 without VAT on terms of delivery for processing. Indications of the prices of the new harvest decreased to UAH 17-18 thousand with VAT or $368-390 without VAT with delivery for processing in September-October. The latest indications of buyers for sunflower:• DAP Ukraine (regions) ~$410-430;• DAP Bulgaria (center) ~$450-460;• CIF Bulgaria (port) ~$445-450. The latest indications of buyers for oil:• FCA Ukraine (regions) ~760-780€;• DAP Ukraine (port) ~830-840€;• DAP Ukraine (border) ~840-850€. Canola prices stuck in anticipation of a pre-season rally or seasonal correction. European logistics is actively traded already for September and October at factories. COCERAL expects the rape crop in Europe in 2024 at the level of ...

Source: Agrotimes