World: Rapeseed prices fell below the critical 400 EUR/ton

Rapeseed prices are falling well below the EUR 400 per tonne mark. On Tuesday, they fell to 383.50 euros per ton, the lowest quotation since the end of May. The pressure is coming from both domestic and global markets, where soybean and palm oil prices have also recently fallen sharply, Agrarheute reported. In addition to the larger than expected crop in the EU, canola prices are also being affected by very cheap Ukrainian imports. According to the European Commission, prices in the belligerent country are about 100 euros lower in Black Sea export ports than in France. Analyst firm Strategy Grains significantly raised its estimate for this year's European Union canola crop to 19.5 million tonnes from 18.9 million a month ago. The upgrade reflects better-than-expected harvests in Romania, Poland, the Baltic countries and, to a lesser extent, Germany, Spain and Italy. Large quantities of rape continue to flow from Ukraine to the European market, where a record harvest was reported. ...