Sunseed Prices in Bulgaria Continue Following a Downward Trend

The Bulgarian rapeseed market was stable over the last week. Rapeseed price closed it unchanged at BGN 680/MT that is equivalent to USD 409/MT (+ USD 5/MT). The pace of export shipments has slowed down over the past seven days, reports UkrAgroConsult.

Sunseed market prices continue following a downward trend. As before, the main factor is advancing harvest, which is now 14% behind last year against 18% behind last year a week ago.

According to Bulgaria's Ag Ministry, sunseed had been harvested from 476.3 Th ha by September 12 (65% of its forecast area of 734.3 Th ha). The crop amounted to 1242.4 KMT with a yield of 2.61 MT/ha (up 16.5% year-over-year). In addition, slower oilseed exports are reported at the beginning of the new season, UkrAgroConsult's analysts note.  Sunseed price closed the reporting week down BGN 3/MT at BGN 549/MT (+ USD 2/MT).

At the same time, grain harvesting has already completed. Grain yields are lower than a year ago, except for corn. Bulgarian farmers continue harvesting corn. Corn yield looks rather optimistic this year, reports UkrAgroConsult.