Czech poppy has enjoyed two good crops in 2014 and 2015 (23-24,000 tons and 25-26,000 tons respectively) and, when this is combined with generally poor demand, prices have unsurprisingly declined, and they look as if they could fall further.

Traditionally Ukraine has bought a good percentage of the Czech crop (probably for blending with high morphine material for onward sale to Russia), but Russian demand, in itself, has astonishingly remained relatively buoyant. The 2016 Czech crop will start to be planted in April, although there are no firm indications as to whether current prices are attractive to farmers (although, given prevalent depressed levels for most crops – with the possible exception of rapeseed - they probably are). However, as we progress through the first half of 2016, old crop stock levels will inevitably decline, and quality issues will become more common, and it is likely that old crop prices will increase in the lead up to the new crop. 

 

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