Belarus: BUCE predicts growth in export prices for rapeseed oil

Published 2022년 2월 14일

Tridge summary

In January 2022, rapeseed oil became the most demanded product at the Belarusian Universal Commodity Exchange, accounting for 46% of total agricultural product exports. The average price for unrefined rapeseed oil was 1,250 euros per ton. The demand for Belarusian rapeseed oil has increased due to a shortage in major European producers like Britain, Germany, and France, caused by low crop yields. The price increase has been further exacerbated by environmental policies in the European Union, which promote the use of biodiesel, and the impact of floods in Malaysia on palm oil production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

02/14/2022 Rapeseed oil has once again topped the top three most demanded products of the agricultural group, the press service of the Belarusian Universal Commodity Exchange reported. In January 2022, this commodity item accounted for 46 percent of the total exchange exports of agricultural products. At the same time, despite some price fluctuations in the first decade of January, the cost of rapeseed oil remained stable. In early February, it almost returned to the values of the end of December 2021. Foreign buyers now pay an average of 1,250 euros for a ton of unrefined oil of brand P on the terms of DAP delivery to the border of the Republic of Belarus. However, according to BUCE analysts, under the influence of external conditions, export quotations may increase in the coming weeks: -- The main consumers of Belarusian rapeseed oil are European countries. Last year, due to the low crop yield, the largest producers - Great Britain, Germany and France - formed a significant ...

Source: Oilbranch