E.U. rapeseed prices fall as canola supplies from Canada and Australia increase

Canola Seed & Rapeseed

Published Nov 26, 2022

Tridge summary

As of November 17, compared to the previous season, EU countries increased their import of rapeseed by 38% from 1.833 to 2.612 million tons, of which 66.4% or 1.736 million tons were delivered from Ukraine, 25.3% or 660 thousand tons - from Australia and only 4.1% or 107 thousand tons from Canada, since Canadian canola is more expensive than Ukrainian and Australian rapeseed. Against this background, quotations for rape on the stock exchange in Paris during November fell by 14.4%. According to the Fediol Vegetable Oil and Meal Industry Association, EU countries processed 1.6 million tons of rapeseed in October, which is the highest October figure since 2016 and is 4% higher than October 2021 processing.

Original content

Ukraine is completing the export of rapeseed and has already shipped 2.5 million tons of the forecasted 2.6-2.8 million tons. European consumers are more actively buying local rapeseed, although producers are restraining sales in anticipation of price growth to the level of spring 2022, but forecasts are putting pressure on the market record canola harvest in Australia. February rapeseed futures on the Paris exchange fell 4% to €586.5/t or $611.6/t since Monday, having lost 14.4% since the beginning of the month, while May 2022 prices reached 846 €/ton January canola futures on the Winnipeg exchange fell 4.5% to CAD 820.5/t, or $615/t, since Monday, having lost 7.8% since the start of the month, after reaching CAD 1,130/t in April. Falling oil prices and new lockdowns in China are reducing demand for canola and canola, which are mainly used in biodiesel production. In Ukraine, demand prices for rapeseed with delivery to the ports of the Danube and the Black Sea remain at the level ...

Source: Graintrade