In this context, it is worth noting that Oil World analysts have lowered their forecast for rapeseed production in the European Union (the EU being the main destination for rapeseed exports from the Republic of Moldova) to 20.4 million metric tons. Logos Press previously reported that, thanks to the projected high harvest and carryover stocks, Oil World analysts estimate total rapeseed supply in the EU market at 22.4 million metric tons. The reason for the recent downward revision is a reduction in estimates for rapeseed plantings in Poland and the Czech Republic, as well as for rapeseed yields in Hungary, Bulgaria, and Romania. In this regard, the “market rates” offered by rapeseed suppliers from Moldova are presumably rising.
It is also worth noting that, according to participants in the Moldovan oilseed market, the management of the country’s largest oil and fat processing plant, Floarea Soarelui SA, has decided to process rapeseed this season as well. As a reminder, last year this company resumed production of rapeseed oil and meal, processing over 40,000 metric tons of raw materials. Rapeseed from the new harvest has already begun arriving at the company’s plant in Bălți, though the process is not yet moving quickly.
The purchase price offered by local processors is currently significantly lower than the prices offered to farmers by export traders. To “re-enter the market” now, processors will either have to offer competitive prices (and payment terms). Or wait a little while—until it becomes clear what the actual rapeseed harvest will be in the European Union, Ukraine, and Moldova, as well as what will happen with the logistics of commodity flows in the Black Sea region.
This afternoon, one of the traders, one of the TOP-3 exporters of oilseed crops, announced a new purchase price for rapeseed – 10.45 lei/kg (delivery – Giurgiulesti port).
