Moldavian rapeseed prices are increasing this season

In the 2023/2024 season, global rapeseed processing volume reached a record level of 77.2 million tons, 0.6 million tons more than in the previous season. At the beginning of the 2024/2025 season, rapeseed prices in Constanta, Romania’s largest seaport, increased significantly, reaching an average of 440-450 €/t compared to the 400-405 €/t at which the previous season started.

“This increase was influenced not only by dry weather conditions, but also by the increase in oil prices caused by conflicts in the Middle East and the shutdown of production at Libya’s largest oil field. At the same time, as for the world refining volume, its increase was particularly noticeable in the European Union, where it reached 25.28 million tons, with significant growth in Germany and Poland, while France recorded a decrease. The Republic of Moldova declared itself as the third exporter of rapeseed to the EU, strengthening its position on the market,” states Iurie Ria, an expert of Moldavian agricultural market.

In Ukraine, rapeseed exports in July 2024 exceeded last year’s figure, increasing by 15% to 278 thousand tons. According to Iurie Ria, this increase is due to the early start of harvest and high demand stimulated by attractive prices.

“However, given the pessimistic forecasts and downward revision of Ukrainian and EU rapeseed production for 2024, many producers without sales contracts prefer to wait to sell rapeseed later. As of August 1, Ukrainian rapeseed prices were at $400-415/t on DAP Izmail/Reni terms, compared to $340-360/t for the same period last year,” he said.

The rapeseed market in Ukraine remains dynamic, with intense competition between exporters and processors, reflecting the volatility and complexity of the sector.

Rapeseed prices in Moldova vary by region, ranging from 8600-8700 lei/t including VAT in the northern part of the country and reaching 9000 lei/t in the port region of Giurgiulesti.

“Compared to the previous season, prices have increased significantly, by 2000-2500 lei/t. For example, in August 2023, rapeseed prices started from 6100-6200 lei/t, with the maximum price in Giurgiulesti reaching 7000 lei/t. However, under the conditions of high prices, the number of active traders decreased, and the decrease in demand led to farmers selling rapeseed at lower prices from time to time,” the expert adds.

Tags: prices, rapeseed, Moldova