W9 Oat Update: Polish Oat Prices Surged Amid Limited Sales Offers, Russia's 2023 Oats Production Declined to 3.3 MMT

Published Mar 7, 2024

In W9 in the oats landscape, grain prices in Poland dipped in early Feb-24, except for oats, which saw a 7% WoW increase to USD 275.06/mt. This is due to limited sales offers, although still 5% lower YoY. In 2023, Latvia experienced a significant surge in grain imports from Russia, with oats increasing tenfold. Meanwhile, Russia's 2023 grain harvest declined to 144.9 mmt from 157.6 mmt in 2022, with oats production falling to 3.3 mmt. Spain forecasts a rise in the area dedicated to autumn-winter cereals in 2024, reaching 5.19 million ha, driven by expanded cultivation of barley and oats.

Polish Grain Market Sees Decline in Prices, Except for Oats

In early Feb-24, grain prices in the Polish market generally declined, except for oats, which saw a 7% week-on-week (WoW) increase to USD 275.06 per metric ton (PLN 1,095/mt) due to limited sales offers. However, despite the rise, oat prices remained 5% year-on-year (YoY) lower, according to the Ministry of Agriculture and Rural Development's Integrated Agricultural Market Information System.

Latvia’s Grain Product Imports from Russia Surged in 2023

Latvia experienced a significant increase in grain product imports from Russia in 2023, totaling 423.73 thousand mt, a 59.9% YoY surge valued at USD 96.55 million, an 11.7% YoY rise. These imports included a notable tenfold rise in oats to 2.13 thousand mt.

Russia's 2023 Oats Production Declined to 3.3 MMT

The grain harvest in Russia for 2023 reached 144.9 million metric tons (mmt) compared to 157.6 mmt in 2022. Specifically, oats accounted for 3.3 mmt compared to 4.5 mmt harvested in 2022.

Spain Projects Expansion of Autumn-Winter Cereal Cultivation in 2024

Spain's Ministry of Agriculture, Fisheries, and Food (MAPA) forecast the area dedicated to autumn-winter cereals to reach 5.19 million hectares (ha) in 2024, based on data collected until Dec-23's end. This represents an increase of approximately 100 thousand ha compared to 2023, attributed to expanded cultivation of barley and oats, although all grain types show improvements over the previous year.