The Ukrainian rapeseed market is experiencing a sharp drop in prices, with further decline expected and a possible recovery in the future.

In the Ukrainian rapeseed market, there is a sharp decline in prices expected to last for up to three weeks. This drop is related to a technical correction on the exchange; however, an increase in prices for this oilseed crop is anticipated in the future. This information was provided by the analytical cooperative PUSK, part of the All-Ukrainian Agrarian Council, during a briefing on June 18, as reported by the VAR press service.

"Currently, the market is experiencing fluctuations. Recently, the exchange price for rapeseed was around 470 euros per ton. However, yesterday there was a sharp drop in prices for grains and oilseeds, including rapeseed, which lost 10-11 euros per ton. This affected the Ukrainian market and led to further price decreases. By June 17, sea ports were offering a price of 435 euros per ton on an FOB basis, which then dropped to 425 euros per ton in the afternoon," emphasized the experts.

Analysts predict a further decrease in prices on the exchange in the near future, expecting this trend to continue for up to three weeks.

"Fundamentally, nothing has changed – the volume of rapeseed remains the same, and the current price drop is related to a technical correction on the exchange. In the near future, exchange prices are expected to decrease to 440-450 euros per ton, but in the long term, prices are expected to start rising. We can anticipate that by October-November, prices will return to a minimum level of 500 euros per ton. For farmers who have not yet fixed prices, it may be wise to postpone sales until September-October in order to sell rapeseed at a more advantageous price later," believe the analysts.