Germany buys half of Ukraine’s rapeseed exports
Export prices for Ukrainian rapeseed have fallen much more sharply than European prices, according to Spike Brokers.
Rapeseed for delivery on a CPT-port basis declined by 5.5%, while FCA Chop prices fell by 6.7%. In comparison, the November MATIF futures contract lost only 0.3% to €548/t, down €1.75 over the week. The price spread between Chop and ports ($560/t and $520/t respectively) narrowed from $50/t to $40/t.
“At the same time, exports accelerated. From September 1–24, Ukraine shipped 341 thsd tons of rapeseed, including 144.6 thsd tons in the latest seven days compared with 72 thsd tons a week earlier. Daily shipments doubled to 20.7 thsd tons. Germany increased purchases to 176.6 thsd tons, accounting for 52% of the total,” analysts said.
Rapeseed oil exports also reached 115.3 thsd tons, increasing by 33.6 thsd tons over the week.
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