farmers rapeseeds field watching tablet computer

Rapeseeds prices in Ukraine are on roller coaster rides

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ODESA – The situation with rapeseeds in Ukraine this season is rather complicated.

On the one hand, farmers had to reduce sown areas due to dry weather last autumn. On the other hand, this year’s average yield has to be very good, and the total yield should be close to last year. According to different forecasts, Ukraine will get from 2.4 to 2.5 mln tons of rapeseeds in 2021.

On the one hand, during the harvest period, prices are usually reducing due to an increase in supply. On the other hand,  dry weather in Canada forced canola recent prices up significantly. Of course, it has a big influence on Ukrainian rapeseeds prices too.

As a result, we can see 10-20 USD price up and down jumps during one day. At the moment, rapeseeds CPT price in main Ukrainian ports is around 580 USD/mt.