Bulgarian rapeseed market was quite active last week due to demand from EU

23.08.2018

In the Bulgarian oilseed market, the price indicators in the national currency remained at last week’s level. However, a decline happened because of a weakening Bulgarian lev. The sunseed market looks more flat at the end of the season. Sunseed price closed the week unchanged at BGN 609/MT that is equivalent to USD 353/MT.

Traders in the rapeseed market are quite active. Demand from European countries remains firm in view of declined production in major growing countries. Rapeseed price closed the week at BGN 649/MT that is equivalent of USD 377/MT, reports UkrAgroConsult.

According to the Agriculture Ministry of Bulgaria, soybeans had been harvested from 180.5 Th ha by August 8, 2018 that represents 98% of their forecast harvest area of 183.6 Th ha. Farmers obtained 448.8 KMT with a yield of 2.49 MT/ha. The harvest progress is far ahead of last year, but yield is still down 12.9% from 2017.

Soybeans had been harvested from 0.1 Th ha. Their crop amounted to 0.12 KMT with a yield of 1.1 MT/ha (down 35.3% on the year).

Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Examine the art of forecasting grain and oilseed prices, spreading and applying right hedging strategies for your business at the Specialized Workshop PRICE FORECASTING, SPREADING AND HEDGING STRATEGIES” within the VI International Conference ‘Black Sea Oil Trade. Workshop will be held on September 19 in Aloft hotel (Esplanadna street 17), Kyiv, Ukraine.

The workshop will be based on the US market forecast model (corn-soybean), adapting methodology for Ukrainian market. Speakers have over 20 years of experience in grain trading, global agricultural market analysis, risk management and development of effective business strategies.

The seminar will be useful for traders, agri producers and market analysts, will feature practical tasks and cases.

 

UkrAgroConsult

 

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