Prices for Ukrainian rapeseed forwards may increase in the coming months, experts say

Rape Leaves

Canola Seed & Rapeseed

Ukraine

Market & Price Trends

Published Mar 8, 2024

Tridge summary

Ukraine's 2023 rapeseed crop stocks are nearly depleted, with only about 126,000 tons remaining. However, European countries are showing increased interest in the new crop of Ukrainian oilseeds due to an expected 12% reduction in the European oilseed crop in the new season, caused by heavy autumn rains. This situation puts European processors at risk of a raw material shortage, increasing the demand for the future harvest of Ukrainian oilseeds with delivery in August-September 2024. Analysts predict a potential increase in the prices of Ukrainian rapeseed forward contracts in the coming months.

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 stocks of the 2023 rapeseed crop in Ukraine are currently almost exhausted, so there is almost no trade in it. However, European countries are showing increasing interest in the new crop of Ukrainian oilseeds. This was reported by APC-Inform with reference to the experts of the analytical center of the PUSK cooperative, established within the framework of the All-Ukrainian Agrarian Council. "As of March 5, stocks of rapeseed of the old crop in Ukraine amount to about 126,000 tons, that is, in fact, the crop has been sold out. Indicatively, prices for rapeseed harvested last year in Ukrainian seaports are at the level of UAH 15,500-16,000/t on SRT terms, in Constanta SRT — $375-385," analysts say. At the same time, it is noted that, at the same time, the interest of European buyers in Ukrainian rapeseed of the 2024 harvest is growing. "In the EU countries, a reduction of rapeseed is expected in the new season. Due to heavy rains in autumn, many farmers did not manage to sow in ...

Source: Superagronom