Ukraine rapeseed prices fall as cheaper sunflower seed and weaker futures weigh on the market
Rapeseed prices in Ukraine remain under pressure from weaker futures, cheaper sunflower seed and increasingly difficult export logistics. Continued attacks on Ukrainian ports, vessels and processing facilities are also weighing on demand for oilseeds.
November rapeseed futures in Paris fell 3.5% over the week to €537.5/t, or around $602/t, amid higher supplies from Ukraine and the EU. Winnipeg canola declined 2% over the same period to 819 CAD/t, or around $575/t.
Ukrainian crushers have largely stopped processing rapeseed and are actively switching to sunflower seed, which is being offered at UAH 17.5–19 thsd/t delivered to plants, compared with UAH 19–20 thsd/t for rapeseed. Export bid prices for rapeseed remain at $500–520/t delivered to Danube ports and western border terminals.
Prices are also declining on external routes. Rapeseed delivered by truck to the Port of Constanța fell by $10–15/t over the week to $575–580/t, while prices delivered to crushers in the Czech Republic and Germany dropped by €10/t to €510–535/t.
Ukraine exported 428.7 thsd tons of rapeseed in September, up from 292.6 thsd tons in August, as well as 154.5 thsd tons of rapeseed oil. At the same time, rising supplies of sunflower seed, soybeans and corn are increasing demand for road and rail transport, pushing logistics costs higher and potentially keeping domestic rapeseed prices under pressure through December–January.
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