Rape prices in Ukraine continue to fall against the backdrop of reduced export demand

Published 2024년 2월 20일

Tridge summary

Polish farmers' blockade of the border has significantly reduced the supply of rapeseed from Ukraine to Germany and the Baltic countries, causing a drop in Ukrainian rapeseed prices. This has led to a 2% rise in European canola quotes, although these are being offset by lower prices in Canada. The increase in soybean harvesting in South America and predictions of increased soybean acreage in the U.S. are also impacting soybean and canola quotes. Lower Canadian canola prices are expected to boost its supply to the EU, heightening competition with Australian and Ukrainian rapeseed in the European market.

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

Original content

The blocking of the border by Polish "farmers" almost stopped the already insignificant supplies of rapeseed from Ukraine to Germany or the Baltic countries. As a result, rapeseed prices in the western regions of Ukraine decreased from 15,300-15,500 UAH/t per FCA farm a few weeks ago to 14,700-15,000 UAH/t, while prices in ports fell to 16,000-16,200 UAH/t or $370/t . European canola quotes rose 2% during the week amid curbs on supplies from Ukraine, but were pressured by lower canola prices in Canada. May rapeseed futures on the Paris MATIF rose 1.9% during the week to €426.75/t or $459.5/t (-1.6% for the month), but remain low. March canola futures on the Winnipeg exchange fell 5.8% last week, but rose 2.7% to 578 on Friday, following lower prices for U.S. soybeans and soybean oil, which is used to make biodiesel. CAD/t or $428/t (-10% per month). The pick-up in soybean harvesting in South America and forecasts of an increase in soybean acreage in the U.S. are also adding ...

Source: Graintrade