Poppy Seed Market Update 02.02.24
Not much has changed since the last report. Historically the Czech Republic has been relatively stable, however over the past couple of seasons the harvest has been tricky to read. Fluctuations in crop yields, farmers replacing poppy seed with other more profitable crops, misrepresentation in crop estimates, and supply vs demand have all contributed to high prices and unpredictability in where the market could go.
Unfortunately, other origins follow suit as the market moves up or has a strong domestic demand and is unable to spare any raw material. Again, prices going into the new year have pushed up to record highs and the general thought is, it will continue to do so as the season moves on.