Seed Market Outlook 27.12.23
Not a lot has changed from our last market report. Demand out of Europe is still subdued, a lot of cover was taken for the first quarter of 2024, keeping prices at relatively low levels. However, demand is starting to pick up for quarter one and quarter two of next year, with some packers being reluctant to go right through to the end of 2024. Yellow/Golden linseed is a little scarcer and it would be advisable to cover volumes now.
As the year closes and the Bulgarian sunflower seed market remains relatively quiet, there is the notion it is still a relatively good opportunity to purchase raw materials. In other news, the Ukraine Sunseed harvest is now coming to an end and supply is in full swing.
Not much has changed, the market seems to have settled and prices appear to have levelled out somewhat with new crop now being offered out. Competitive offers are being proposed and are now starting to see offers further out into late next year. This appears to be a good opportunity to book the required volumes as and where you can.
There has been no real change in the Poppyseed market and this week's update sits in line with previous weeks. This season's crop appears to unravel as being less and less optimistic as the harvest goes on, this year's yields will be considerably down compared to previous years, with no other origins to offer a real competitive contrast, so far. It is estimated that this year's yields are 14,000-15,000mt of which 5,000mt have already been sold. This is pushing up prices further for Czech material and is becoming apparent other origins will follow suit. The quality looks good, but prices look to remain extremely firm.
Again, not a deal great had changed from our last report. Weather conditions have continued to impact the total estimated crop yields. It is believed, overall, that the top is down by as much as 30% due to the rainy conditions during harvest combined with immediate hot weather thereafter. However, this simply means that new crop is equal to last year's yields. Nonetheless, domestic demand is fairly stagnant at the moment, as are exports. This has caused prices for both GWS and Shine Skin to slightly ease in the short term.