Seed Market outlook 15.09.2023
Around half (52%) of adults across Great Britain say they are spending more than usual to get what they normally buy when food shopping. Rising food costs was the most commonly reported reason among the 51% of adults who said their cost of living had risen compared with a month ago.
Flaxseed – Not much has changed. Heavy rainfall may well disrupt the harvest and therefore delay new crop offers, in turn putting pressure on prices. This could also mean seeing no significant offers through till new crop. It may now be the case that the bottom of the market has now gone. We will sit tight and see how the market reacts to the new crop which will start to harvest in September. Overall, the cultivation of Linseed appears to be pessimistic. Canada is expected to be 20% down, same by comparison with Kazakhstan, and Russia at similar levels being 25% down. Even in the UK it is expected that yields will be as high as 50% down. Prices today are firm but steady, however, may see a quick shift.
Sunflower – There is uncertainty surrounding what the European Union will do after the 15th of September, whether they will continue to enforce the ban of imports for Ukrainian grains and oilseeds or not. If they were to lift the ban, this could flood the market with raw materials and decrease prices, however, the alternative may continue to support inflated prices. Of course, we still face ever changing logistical obstacles what with the political situation with Russia and Ukraine.
Millet – Prices seemed to have leveled out somewhat with new crop now being offered out. However, there are still some yield concerns due to abnormally hot weather, the ongoing Russia-Ukraine conflict, and the fact that some suppliers are in a short position. It is believed that prices will be stable to the end of the year and possibly increase as of the new year, in-line with previous years trending.
Poppy – This season’s crop appears unravel as being less and less optimistic as the harvest goes on, this year’s yields will be considerably down in comparison to previous years, with no other origins to offer a real competitive comparison, so far. Prices for Czech material are starting to push up and its becoming apparent other origins will follow suit.
Pumpkin –We are now hitting a tight period, depleting current crop levels coupled with a slight increase in demand domestically, prices are now holding firm while we wait till new crop. Nonetheless, it remains the belief that new crop will be healthy and much larger than last years, despite the fact the GWS acreage will be approximately 40% down. Harvest has now started, and it is becoming clear that extreme heat this year during the pollination period has had an effect. That in combination with an upcoming festive period, increasing domestic demand, has for the first time in months prompted a price shift. However, new crop prices are still at lower levels.
Download - Seeds market outlook, 15.09