News

The situation on the global oilseed flax market is tough: By May 2024, there may be no raw material left for processing

Flax Seed
China
Published Dec 8, 2023

Tridge summary

The global oilseed flax market is experiencing a rare situation where demand for raw materials for processing far exceeds the supply level, with a 100 thousand ton shortfall. Prices are rising on all bases, and the main consumer of oilseed flax, China, has already imported about 320 thousand tons in the current season, mostly from Russia. The market is being restructured, with some industrial sectors beginning to replace linseed oil with other types of oils.
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

A rare situation has arisen on the global oilseed flax market - the need for raw materials for processing in the current season far exceeds the supply level. “If in previous years we saw a significant surplus of supply over processing, today the numbers are not just equal, but supply is about 100 thousand tons lower than the level of demand for processing. Only the leftovers, which, by the way, are very small, will help out.” , - informed the founder of Northern Grain LLP Evgeny Karabanov at the International Conference "Asia Grains & Oils Conference: Results of 2023" in Almaty. According to his estimates, in Kazakhstan the remains of oilseed flax amount to only about 30 thousand tons, in Russia - about 50 thousand tons and in Canada - up to 180 thousand tons. “The situation on the market is quite tough. It is not yet clear why everyone is so calm and relaxed - in May we will see how everyone runs in when there is no more flax,” the expert emphasized. According to him, at the ...
Source: Agrosektor
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.