Ukraine harvested over 2.5 mln tonnes of rapeseed

According to the Ministry of agrarian policy, as of August 8, with 987 thousand hectares (99% of target) domestic farmers have collected 2,571 million tonnes of rapeseed with the average yield of 2.6 t/ha, whereas on a specified date in the past year it was raised to 2.06 million tons of rape. Overall in 2017 were collected 2,195 million tonnes of rapeseed with a yield of 2.79 MT/ha.

the slowdown in the rapeseed production in EU and increased imports from Ukraine promotes the growth of purchase prices in Ukraine, although early in the season, the market expected the reduction of imports of rapeseed in the EU, including from our country.

However, yesterday on Euronext quotes on rape decreased by 1,25 €/t to 382,7 €/t, and a sharp depreciation of the Euro against the dollar to 1,144 $/€ the dollar has fallen off the price immediately with 437,8 446 to $/t

In Ukraine, the price of canola at the port rose to a 428-432 $/t or 13600-13750 UAH/t, and grain elevators – to 12900-13000 UAH/t

Forecast of production and exports of canola from Canada increased due to good conditions for the development of crops. In Chicago is trading at 509 canola CAD /MT or 389 $/t

Traders expect the release of a new report USDA, which will be significantly reduced forecast of rapeseed production in the EU and Australia, however, a slightly increased yield estimation in Ukraine and Canada.