The price of rapeseed under uncertainty due to the yields in EU
the Uncertainty of the rapesseds crop in Europe continues to keep traders in tension, so the price of rapeseeds have a high volatility. Quotes for rapeseed on Euronext yesterday fell sharply to 3.5 euros to 358,25 € /ton or $420,62/t, thus losing growth last week. The Euro was fixed and the drop in the price of palm oil to the level of 2268 ringts or $563/t become a factor of pressure on price.
Experts Oil World forecast in 2018/19 reduction of gross yield of rapeseed in the EU-5%, comparing with the previous period, to 20.64 million tons the Main reason for the reduction – dry weather persists in most parts of the European Union.
So, step-down adjustments the gross harvest of oil was carried out for France – to 4.95 (5,2) mln t, Germany – 4 (4,29) mln t and in Poland 2.1 (2,6) million tons In the course of progress of cleaning of a rape in EU and data yield traders will adjust prices for rapeseed of the new harvest.
According to experts ' forecasts in 2018/19 reducing import of rapeseeds of the European countries to 3.85 million MT against 4.17 million tonnes in 2017/18, despite a forecast increase of rapeseed processing in the European Union to 24.1 (24,02) million tonnes.
Ukraine harvested nearly half of the acreage of canola and harvested 1.1 million tons from the area 475,6 thousand hectares (48% of the forecast) with a yield of 2.32 t/ha. Forecast of rapeseed production remains at 2.4 million tons in the forecast of exports of about 2.2 million tons in the purchase price of rapeseed has increased over the past week for 5-6 dollars and are at $400 – 403/t or 12300 – 12500 UAH./t delivery to the port. Processors offer 11900 – 12000 UAH./t to the plant.