Sunseed and rapeseed prices return to gains

UkrAgroConsult

Article author:

Helen Gesova

Grain and Oilseed Market Analyst

Meanwhile corn and wheat prices have the tendency to go down, rapeseed and sunseed strive again to multiyear highs, UkrAgroConsult reports.

At the end of last week price for sunseed FOB Black Sea ports changed the direction and appreciated to USD 585/mt (+54% y/y) at the background of high domestic and export demand.

In November exports of Ukrainian sunseed reached 37.9 KMT (against 3.6 KMT in November 2019)  – maximum since 2016/17 for the given month. Except for the top buyer Bulgaria, Turkey appeared among the importers.

Thus, despite the lower crop, in September-November 2020/21 Ukraine exported 114.8 KMT of sunseed (just 8.7 KMT in the same period of 2019/20).

Price for Ukrainian rapeseed also incaresed, following the tendency on the EU market.

The major support came from the final data of Statistics Canada last week. Estimate of canola crop was downgraded by 700 KMT to a 5-year low for the country.

In December market expects the massive arrival of Australian canola, which should limit the price growth.

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