Seeds Market Outlook 03/05/2024

Date: 3rd May 2024 Category: Latest News
Seeds Market Outlook 03/05/2024

Flaxseed – A decision has finally been made and Kazakh flaxseed will be able to continue being transported through Russia to the EU without any import duties. The original proposal consisted of a phasing rule being applied. 10% import duty until end of 2024, 20% import duty during 2025, and 50% import duty from 2026 onwards.


Sunflower – oil seed markets are still leading the way on price levels, especially rapeseed, however, the sunflower kernels are relatively low by comparison. Although the bottom levels have now gone, it’s still not a bad price taking into consideration inflation and other contributing factors. New crop is progressing in Bulgaria and now well on its way.


Millet – Not a great deal has changed since our last report. It is still expected that prices will remain relatively stable until we have sight of what new crop may look like. However, the general notion is that prices will stay around these levels and therefore be reflected in the offers we can currently get. We are seeing some forward offers already.


Poppy – We have yet to see any official estimate for this years Czech crop. However, given the inflated prices sold throughout this season, it is expected that farmers will again revert back to poppy seeds having seen such profitability. It is anticipated that sowing may have increased by as much as 30-40%. Now we are at the mercy of the weather to see how this season unfolds.


Pumpkin – Both domestic and overseas sales remain stagnant, in combination with an expectedly good upcoming crop, this has created some nervousness amongst farmers and traders’ stockholding. As it stands their stock is now looking expensive against current replacement sales levels, potentially creating losses for some. This could lead to further declines if sales remain at this consistency.