Odesa – rapeseeds harvest in Ukraine at least started and is picking up steam.
At the moment, the market is eagerly awaiting data on the yield of Ukrainian rapeseed. This year sawn areas under rapeseeds in Ukraine were reduced. Thus, only good yields can help to harvest volumes on the same level as last year.
Last week, domestic and export prices of the Ukrainian market tried to decline. Nevertheless, the recovery in oil prices, poor condition of canola crops in Canada and weather conditions are the main factors that keep global export prices for rapeseed above last year. Locally, some market participants, as usual, are trying to reduce their purchase prices at the beginning of the harvest campaign. But this attempt failed. Today, some big local companies like Nibulon and Prodresyrs have raised their purchase price in main ports by 500-700 UAH. Now prices come to 18 500 – 18 600 UAH.