Bulgaria: tight rapeseed supply and demand balance offset by a crop increase

UkrAgroConsult

Article author:

Svetlana Kupreeva

Oilseed Market Analyst

Amid high feedstock prices, unfavorable weather conditions in the fall of 2020 (a substantial moisture deficit) curbed farmers’ plans with regard to winter rapeseed plantings for the 2021 crop.

At the same time, winter rapeseed plantings totaled increased by 9% from MY 2020/21.

Real-time harvest data indicate high yield and crop levels (up 25.3% and 46.3% from MY 2020/21, respectively).

According to UkrAgroConsult’s projections, the rapeseed crop will increase considerably with a near record yield.

The rise in production will allow reducing dependence on imported rapeseed and pushing crush up to a new record high.

A rise is expected in rapeseed exports, which are traditionally aimed at EU countries. However, the global supply situation brings its own adjustments: foreign demand is high and the first real-time reports indicate rapeseed shipments outside the EU.

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UkrAgroConsult

Tags: Bulgaria, rapeseed, crop increase, supply and demand balance