Dutch rapeseed oil prices upsurge again. A compound of EU fuel demand rebounds and UK-based plant incident
Caio Alves
Published 2020년 6월 21일
Rapeseed oil prices on the rise for 6-7 weeks in a row. Last Friday the European biodiesel market took a hit, with an explosion of a UK-based oilseed plant. Not to mention the pounding fuel demand on pressure.
The south-east London based rapeseed crusher which processes around 1 million mt of rapeseed a year and sells an estimated 385,000 mt of oils/yr, making it one of the UK’s largest oilseed processing plants had a serious explosion at the extraction area facility, for causes unknown.
Three contractors who were working outside, suffered injuries and were taken to a local hospital where they are being treated.
From the Biodiesel demand perspective another boost to rapeseed oil prices is taking over, which have been on a steady rise since early April as demand from the biodiesel sector takes in around half of Europe’s rapeseed oil production, of which is now rebounding. Markets had shuttered operations in April after EU went through an extensive lockdown measures to contain COVID-19 spreading. Road fuel retailing demand fell over 70% in that month.
Oil loading for August-September-October traded at the offer level of €780/mt FOB on Friday, up €12/mt on the day, and the highest level for spot oil since early March.
The south-east London based rapeseed crusher which processes around 1 million mt of rapeseed a year and sells an estimated 385,000 mt of oils/yr, making it one of the UK’s largest oilseed processing plants had a serious explosion at the extraction area facility, for causes unknown.
Three contractors who were working outside, suffered injuries and were taken to a local hospital where they are being treated.
From the Biodiesel demand perspective another boost to rapeseed oil prices is taking over, which have been on a steady rise since early April as demand from the biodiesel sector takes in around half of Europe’s rapeseed oil production, of which is now rebounding. Markets had shuttered operations in April after EU went through an extensive lockdown measures to contain COVID-19 spreading. Road fuel retailing demand fell over 70% in that month.
Oil loading for August-September-October traded at the offer level of €780/mt FOB on Friday, up €12/mt on the day, and the highest level for spot oil since early March.
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