Flax prices in Kazakhstan remained stable last week. However, given rising vegetable oil prices on the global market, experts expect the price of this crop to increase. This forecast was shared by Evgeniy Karabanov, head of the analytical committee of the Kazakhstan Grain Union.
"The flaxseed market is experiencing a lull before another price rally. The underlying reason is rising prices for rapeseed, soybean, and palm oils, following rising oil prices," noted Evgeniy Karabanov.
According to the Grain Union, the domestic EXW flax price remained unchanged last week at 230,000-240,000 tenge per ton (USD 465-486 per ton).
The FCA Kazakhstan export price also remained unchanged at USD 510-515 per ton.
The price of Kazakh brown flax (97% purity) at DAP Poland remained unchanged at EUR 540-545 per ton.
The price of Kazakhstani flax on C&F ARAG terms increased by USD 10 per ton, reaching USD 700 per ton, with shipments in April.
On the Chinese market, yuan-denominated flaxseed prices increased by an average of CNY 50 per ton:
domestic prices in China: CNY 4,800–5,150 per ton (USD 695–746 per ton);
C&F Tianjin port: up to CNY 3,850–4,200 per ton (USD 558–608 per ton).
As Evgeny Karabanov emphasized, flaxseed prices are currently temporarily frozen, awaiting the next surge.