For the first time in 25 years, the prices of rapeseed oil in the EU have fallen below those of palm oil

According to Mintec Analytics, for the first time in 25 years, EU rapeseed oil has become cheaper than palm oil, which is usually the lowest priced of the four main oils (rapeseed, sunflower, soybean and palm) and serves as a benchmark for market participants. Thus, as of March 16, rapeseed oil prices fell to the lowest level since January 2021 - €929.5/t FOB Rotterdam, while the price of crude palm oil was €951/t CIF Rotterdam. The reason was oversaturation of the EU market, as local processors bought large batches of rapeseed in Ukraine, 50% of which were processed in the EU. Purchases were made at a relatively low price, which ensured an increase in margins and sales volume. Despite the import of significant batches of rapeseed to the EU, the demand for rapeseed oil remains low, both from the biodiesel industry and from the food industry. Most food producers bought rapeseed oil as an alternative to sunflower oil because they expected a supply disruption due to the war between ...