World rapeseed price exceeded 20-year maximum

UkrAgroConsult

Article author:

Olena Hesova

Grains, Oilseeds & Pulses Market Analyst

World price for rapeseed have already exceeded the 20-year maximum and strives for the new psychological level.

Currently, Ukraine is the only large rapeseed supplier for the EU, as old crop stocks in Canada have depleted faster than last year. New crop harvesting reached 30%. Australia will boost new crop sales only in October-November.

Due to record high prices, the EU importers are not in a hurry to import a lot.

At the start of last season import pace of the EU was slow as well and became more active on the arrival of the new crop from Canada and then from Australia, which is almost totally focused on the canola exports to the EU.

However, except for the EU, new crop of Canada is highly expected by the second largest importer – China.

Besides China, other important buyers of Canadian canola as China, UAE, Japan, Mexico and Pakistan will fight for the new crop supplies of Canada, which is going to provoke another rise in world rapeseed price, UkrAgroConsult reports.

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UkrAgroConsult

Tags: price, rapeseed