Romania: In the first week of June, the price of CIF Constanta rape decreased by €23

Published 2024년 6월 18일

Tridge summary

The article highlights a decrease in canola and rapeseed prices in the CIF Constanta market due to the influence of Canadian canola, although a reduced EU rapeseed forecast by Strategie Grains mitigated the decline. Buyers are showing interest in contracts tied to the MATIF exchange, while sellers are being cautious to avoid over saturating the market and the potential price volatility experienced last year. The upcoming season is anticipated to see increased competition between Ukrainian rapeseed processors and exporters due to a predicted domestic oil shortage.

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

Original content

In the first week of June, the CIF Constanta canola price fell by €23 due to pressure from Canadian canola. But the fall in the June Strategie Grains EU rapeseed forecast to 17.94 million tonnes limited the fall in prices. ASAP Agri CEO Khrystyna Serebryakova told about this in an article on Latifundist.com. She noted that buyers are now interested in signing contracts linked to the MATIF exchange. Especially against the background of the news that many rape crops in the Dnipropetrovsk region were damaged due to local frosts in May. In turn, sellers are in no hurry to saturate the market with offers. Because they have a bitter experience last year, when they concluded forward contracts for rapeseed and rapeseed oil (to China), and at the time of their execution, prices jumped. "In the 2024 season, sellers are ...

Source: Elevatorist