Rapeseed price remains high despite harvesting in Ukraine and EU

The season 2020/21 started at a high level of rapeseed price, despite harvesting campaign in the EU and Ukraine.

The key factors favoring the upward price trend – another year of low rapeseed crop in the EU suppliers to the domestic market (like Romania) and non-EU key supplier – Ukraine.

Due to the second successive decrease in seeded area followed by low amount of snowfalls in winter and dry start of spring, in 2020 Romanian rapeseed crop is seen at the lowest level since 2013/14MY.

In the near-term, the market will be focused on the weather conditions ahead of the seeding for 2021/22. In the last two weeks France and Germany didn`t receive any productive rains and the forecast for August 4-11 is not optimistic as well.

The rains should come to the Northern part of the EU before the seeding, otherwise the rapeseed price may receive a further rise from the levels we are already observing, UkrAgroConsult reports.

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