News

Purchasing prices for rapeseed in Ukraine are falling amid declining export demand

Published Jan 18, 2024

Tridge summary

Increasing rapeseed supplies through the Black Sea ports allowed Ukraine to boost exports despite border closures with EU countries, but the demand is now decreasing leading to stagnant prices. Demand prices for supplies to Germany and the Czech Republic fell, making it unprofitable for farmers. The global pressure on prices is increasing due to a seasonal increase in canola supplies from Australia, and demand for oil and biodiesel is declining as a result of increasing sales of electric vehicles.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Increasing supplies through the Black Sea ports allowed Ukraine to increase rapeseed exports against the backdrop of blocking borders with neighboring EU countries for three months. But most traders are completing rapeseed export programs, so demand for it is decreasing, and you shouldn’t count on price increases in the near future. Prices for rapeseed in Ukraine remain at the level of 365-380 $/t with delivery to the Black Sea ports, but hryvnia prices increased during the month against the backdrop of a strengthening of the dollar by 5% to 15,500-16,200 UAH/t. The lack of competition and the possibility of exporting to the EU by road allows traders to buy the required consignments at the port. Demand prices for supplies to Germany and the Czech Republic fell by 10 €/t over the month to 400-410 €/t, which makes them unprofitable for farmers, given the increase in logistics costs by 1.5 times compared to August-September due to the blocking of borders. In December, rapeseed ...
Source: Oilworld
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.