Time.news – The prices of rapeseed and sunflower seeds recorded an unprecedented rise due to the invasion of Russia in Ukraine. In fact, the two countries are among the world’s largest producers of the seeds from which the oils are extracted. “The price of rapeseed has risen sharply as have other types of oils,” explains Agritel, a company that deals with market strategies for agri-food products, setting its all-time record.
Also palm oil marks significant increases, rising by almost 500 ringgit (106 euros) to 6,468 ringgit (1,376 euros) per ton for the May 2022 deadlines on the Kuala Lumpur stock exchange.
Same story for sunflower seeds. “Ukraine exports exports more than 50% of the sunflower oil marketed on the planet,” Agritel said in the statement. “It is difficult at the moment to predict all the consequences of the Russian action on the markets, as ports like Marioupol and Odessa stopped operating this morning due to the bombing,” continued Agritel.
“In this context, exports from the Black Sea are stopped, causing prices to rise for all these products, Agritel concluded. At the moment on Euronext a tonne of rapeseed was up by € 37.75 on the May deadline to € 778. , and of 53.50 euros on the August maturity to 698.50 euros.The highest closing price for the seeds of the plant was reached on 7 January 2022 on the February deadlines, at a price of 828 euros.