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Global rapeseed prices are breaking records, despite falling oil and vegetable oil prices

Canola Seed & Rapeseed
Published Dec 21, 2021

Tridge summary

Last week, rapeseed prices at Paris' Euronext rose sharply amid speculative demand and supply shortages, reaching record highs despite sharp declines in oil and vegetable oil prices.

Original content

February rapeseed futures for the last two sessions rose by 3.7% to a record 729 € / t or 820 $ / t, adding 5.4% for the month. At the same time, May futures rose by 2.6% to € 669.25 / t, and August futures rose by 3.5% to € 545 / t. Prices are supported by the delay in the harvest in Australia and the resulting shortage of supply. From July 1 to December 12, the European Union imported only 2.08 million tons of rapeseed, which is 55% lower than last year, primarily due to reduced supplies from Canada from 1.35 million tons to 92.6 thousand tons. Ukraine exported to the EU 1, 51 million tons of rapeseed, which is much less than last year, as it increased its own processing and increased supplies to Pakistan, Bangladesh and the UAE. Australia has exported 300,000 tons of rapeseed to the EU out of a projected 1.5-2 million tons, and has been stepping up supplies since January. Australia's canola export forecast for 2021/22 MY has risen to 4.6 million tonnes from 3.3 million tonnes ...
Source: Graintrade
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