News

Prices for rapeseed in Ukraine continue to decline amid declining export demand

Rape Leaves
Canola Seed & Rapeseed
Ukraine
Market & Price Trends
Published Feb 21, 2024

Tridge summary

Polish farmers' blockade of the border has led to a significant reduction in the supply of rapeseed from Ukraine to Germany and the Baltic countries, causing a drop in prices in Ukraine and a 2% rise in European rapeseed prices. However, these prices are under pressure due to lower canola prices in Canada, falling soybean and soybean oil prices in the US, increased soybean harvest in South America, and predictions of increased soybean acreage in the US. Additionally, the Ministry of Agriculture of Canada has reduced its forecast for canola exports for 2023/24 and increased its estimate of stocks compared to last year.
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

Blocking of the border by Polish “farmers” almost stopped the already small supplies of rapeseed from Ukraine to Germany or the Baltic countries. As a result, prices for rapeseed in the western regions of Ukraine decreased from 15300-15500 UAH/t on FCA – farm a few weeks ago to 14700-15000 UAH/t, while prices in ports fell to 16000-16200 UAH/t or 370 $/t. Quotes of European rapeseed during the week rose by 2% amid restrictions on supplies from Ukraine, but they are under pressure from lower prices for canola in Canada. May Futures for rapeseed 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 low. Following the decline in prices for soybeans and soybean oil in the United States, which is used in the production of biodiesel, March canola futures on the stock exchange in Winnipeg last week fell by 5.8%, but on Friday rose 2.7% to 578 CAD/t or 428 $/t (-10% for the month). Intensification of the soybean harvest in South ...
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