Intensification of rapeseed harvesting campaign in the EU and Ukraine has contributed to an increase in oilseed supply on the market and, as a consequence, a drop in quotations on world exchanges at the end of last week. This is reported by GrainTrade.
Thus, August futures on MATIF on Friday collapsed by 5.9% – to €470 per ton. “Quotes rose 7.5% last week, but fell on Friday, losing almost a week’s growth amid low demand in the physical market and growing supply of oilseeds,” the report said.
By the beginning of the third decade of July, rapeseed harvest in Ukraine smoothly approached the equator, and data on oilseed yields allow to count on high production volumes – 3.8-4 million tons.
“Ukrainian farmers are accelerating sales, which increases volumes of cheaper rapeseed with delivery to the EU“, – noted in the materials.
In particular, purchase prices for the Ukrainian crop fell on Friday to $340-350 per ton.
The Canadian canola market is “pressured” by forecasts of precipitation, which is expected to favor the development of oilseed crops. November futures on the Winnipeg exchange on Friday slipped 2% to $624.8 per ton (-0.5% week-on-week; +14.7% month-on-month).
In addition, in Australia, ABARES data showed prices rose 3% to $555 per tonne for the week.
Import/Export Statistics
Please click to reach our marketplace
The following reports may be of interest to you:
Related posts:
Chinese Biodiesel Pushes Down EU Rapeseed Oil Prices
European Commission Proposed a Plan to Solve the Issue of Grain Imports from Ukraine
Rapeseed Harvest Is Predicted to Increase in EU
Russia Oilseeds: Who Does Not Do What Russia Wants Shall Feel It
Customs Subcommittee Extended the Ban on Export of Rapeseed From Russia for Six Months
European Union Becomes a Net Importer of Rapeseed Oil
The situation with pesticides in rapeseeds is improving
Rapeseeds harvest period is coming in Ukraine with big price differences