Bulgaria to compensate for rapeseed shortage in the EU market

15.12.2016

Bulgaria’s 2016/17 rapeseed planted acreage was reduced by 2.3% to 170 Th ha that is somewhat below its long-term average. Favorable weather conditions allowed farmers to get a record rapeseed yield in 2016/17. The total rapeseed crop consequently hit 493.1 KMT in 2016/17, i.e. exceeded the most optimistic expectations.

Overall, the first months of MY 2016/17 feature active export shipments of rapeseed, Svetlana Kupreeva, oilseeds market analyst of UkrAgroConsult reports. In early December, an upward trend is observed in exports as compared to the same period last year. As predicted, the share of European countries in export deliveries grew to 90% from the average 70-80%.

Taking into account forecasts about further rapeseed production decline in the EU, Bulgaria could to some extent compensate for this commodity’s shortage in Europe under favorable conditions, like it did in 2016/17, expert notes.

Full version of the article is available to subscribers for weekly market report “Black Sea Vegoils & CIS” and “Online market review” by UkrAgroConsult.

 

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