Romanian rapeseed price is volatile due to geopolitics and start of harvesting
This past week (June 12-19) Romanian trading companies sharply decreased purchasing prices for local rapeseed. Over the week the price lost about EUR 23/mt to EUR 490/mt CPT, stepping aside from the peaks (EUR 517-520/mt), noted at the beginning of the month.
Source: UkrAgroConsult database AgriSupp
Price fall was connected with the progress in the US-Iran negotiations and announcement of the Hormuz Straight`s gradual opening. Also, Romanian farmers started early harvesting of rapeseed in the southern regions of the country.
As the negotiation progress remains uncertain between the US and Iran, this week the price may see some further volatility. Along with that, weather conditions should remain favorable for the harvesting works in the south and south east of the country.
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