In 2012/2013 marketing year the residual rape inventory will decrease by 26%
The specialists from the US Ministry of Agriculture cut their forecast of the world rape production in 2012/2013 by 1% (61,28 mln tones). It is 0,6% more than the harvest of the previous season.
As for export, the forecast is decreased by 3% till 12,34 mln tones. If to compare with 2011/2012 year, the delivery volumes will be cut by 3,2%. The export forecast for Canada is decreased by 400 thousand tones till 8,3 mln tones, it’s mainly caused by the downward correction of the harvest forecast.
In the new season the world rape processing will be 0,9% less (till 60,22 mln tones). The forecast of the residual rape inventory is decreased by 0,6% till 3,35 mln tones, it’s 25,6% less than this rate in the previous marketing year.
Rape harvesting is finished in Ukraine. Despite the decrease of the rape cultivating area (almost 35% less compared to 2011), the gross volume of the rape seeds constituted about 1,0 mln tones in goal weight. Pro-Agro company estimates the exporting potential of Ukrainian rape seeds in 2012/2013 MY at a level of 960 thousand tones, one third of this volume have already been adopted. It should be noted that the biggest rape volumes are sold in EU during the first half of a season.
According to the experts’ monitoring data, last week the demand prices for rape at internal bases didn’t change – 4350 UAH/tone, EXW, yet the growth of prices began in ports – 4650 UAH/tone. At the same time the external supply prices, which have been growing before, didn’t change – 645-650 USD/tone, FOB with the delivery in September or October.
Nowadays the exporters who increase the demand quantity stay to be the main purchasers, processing companies almost never participate in this game.
