Bulgaria. Domestic oilseed prices strengthened supported by strong demand

19.01.2018

Strengthening of domestic sunseed prices in the national currency is seen in Bulgaria due to a revival of sales after the New Year holidays: crushers are seeking to replenish raw material stocks, while traders are trying to execute previously signed contracts, reports UkrAgroConsult.

Another bullish factor is the cross rate between the Bulgarian lev and the US dollar. Sunseed price closed the past week up BGN 3/MT at BGN 552/MT that is equivalent of USD 344/MT.

Traditionally at this time, the rapeseed market is entering a phase of sluggish trade due to short oilseed supply that pushes prices down. However, while last year’s downward trend started in late September, the 2017 trade began slackening no sooner than towards the end of December 2017. Nonetheless, a growing national currency supported prices in U.S. dollar terms last week.

More information on price behavior on oilseeds/vegoils market in the countries of Black Sea region is available to subscribers for weekly market report "Black Sea Vegoils" and "Online market review" by UkrAgroConsult.

 

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