Prices for soybeans and sunseed in Kazakhstan declined, while other oilseeds rose slightly

According to the bureau “Grains and Oilseeds. Kazakhstan”, during the week the prices for soybeans and sunseed decreased in the country, while other oilseeds slightly increased.

Thus, the prices for sunseed decreased by 10 thsd tenge/t or $18/t to 164 thsd tenge/t or $310/t, and for soybeans – by 7 thsd tenge/t to 186 thsd tenge/t or $352/t. Experts of the bureau advise farmers to sell soybeans as soon as possible, as prices will continue to fall.

At the same time, safflower went up by 4 thsd tenge/t to 94 thsd tenge/t or 178 $/t, and flax – by 1 thsd tenge/t to 203 thsd tenge/t or 384 $/t.

At the same time, prices for rapeseed remained unchanged (at 209 thousand tenge/t or 393 $/t) and mustard (215 thousand tenge/t or 407 $/t).

In November and early December, prices for sunflower and flax grew steadily, and processors reported a shortage of sunflower, which has risen in price by 30% since the beginning of the season.

According to the Bureau, export demand prices for crude sunflower oil fell to 980-1000 $/t at the border with China, which increases pressure on sunseed prices.

Tags: prices, soybean, sunseed, Kazakhstan