The strengthening of the Euro led to a rise in the price of rapeseed
over the past week, the Euro strengthened against the dollar from 1.11 to 1.14, which is very surprising financiers, who expect a similar growth by the end of 2017.
the Price of rapeseed on Euronext in two days rose by € 2/t to € 359/t, but due to course changes of dollar price has increased from 398,7 $/t to 409,22 $/t
strengthening of the Euro will lead to lower prices in European markets as importers outside the EU rapeseed contract in dollars. And the dollar prices remain stable due to the good forecasts of harvest of rapeseed and canola in the major producing countries: Canada, Australia and Ukraine.
due to higher prices of oilseeds the value of canola in Chicago for the week rose 8 CAD/t to 482 CAD/t (358 $/ton to the 369, 9 $/t).
the Price of Ukrainian rapeseed remains at 385-393 $/t delivery port. Buyers started calling hryvnia price:
- 11800-12000 UAH/t at the port,
- 11500 UAH/t CPT- processors
- 11000-11300 UAH/t at the grain Elevator.
the Ukrainian hryvnia, which financiers are predicted to strengthen to 25,5-25,7 UAH/$, suddenly depreciated to date 26,06-to 26.08 UAH/$. The share of foreign exchange earnings from sales of agricultural products is more than 42% of the total domestic exports, therefore, after the start of harvesting of the new crop is expected to increase foreign exchange earnings.
As of 01.06.17 in the 2016/17 season my Ukraine increased exports of the main types of oil products to 4.2 billion $ against of 3.54 billion $ in the previous season.