Active export of rapeseed from Ukraine keeps purchase prices high

Global rapeseed prices declined slightly last week, but in Ukraine, purchase prices remained high due to active exports and purchases by traders. Friday’s drop in oil prices by 3.7% has not yet affected the rapeseed market, but in the coming days the pressure on quotations will increase.

During the week, the purchase price of rapeseed in Ukraine rose to 22700-23000 UAH/t or 475-485 $/t with delivery to the ports of the black sea, as farmers almost stopped selling after the price decline. Processors offer 20500-21500 UAH/t for rapeseed with delivery to the plant.

the November futures for rapeseed on the stock exchange in Paris last week fell by 1.7% to 472,25 €/t or 516,3 $/t (-3.3% for the month), almost not responding to forecasts of a decrease in the EU crop.

November futures for canola on the Winnipeg stock exchange for the week fell 5.7% to 610 CAD/t or 439,35 $/t (-7% for the month).

Improved weather conditions in the prairies of Canada contributes to the formation of a good harvest of canola, so the quotes are falling after speculative growth last week.

Tags: Ukraine, prices, rapeseed