Bulgarian rapeseed growers to stand their ground in the new season

06.06.2018

According to current information of Bulgaria’s Ag Ministry, the 2017/18 total rapeseed crop in the country amounted to 479 KMT. Taking into account that this crop was obtained from the smallest harvest area in four years, the Bulgarian farmers did well. They were helped out by a record yield for the country, reports UkrAgroConsult.

Remarkably, the first estimates for the 2017/18 crop were somewhat more modest. As a result, export potential of the current marketing year was underestimated. Although Bulgaria traditionally shipped abroad more than 95% of its expected exportable rapeseed stocks during the first five months, the latter half of the season also see enough shipments of the commodity to foreign markets. This prompted an increase in the export forecast figure.

Due to moderate demand for Bulgarian rape oil from European countries, rapeseed crushing decreased and exports of the finished product dropped for the first time in four seasons, UkrAgroConsult notes.

Contrary to pessimistic expectations caused by a long-term downward forecast for rapeseed demand from the European Union along with a then-reported year-on-year delay in planting of winter rape, its harvest area as of the beginning of the new 2018/19 season is at a four-year high. Therefore, even with a yield at the 5-year average, a good crop can be expected. This would make it possible to step up rapeseed exports and restore crushing in the new season.

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

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine.

 

UkrAgroConsult

Readers choice: TOP-5 articles of the month by UkrAgroConsult