EU oilseed meal prices have firmed up, says UFOP
In Germany, UFOP advises that prices of soybean meal and rapeseed meal recovered at the end of December 2015, after downward for several months. However, pressure continues to be large.
At the beginning December 2015, overabundant supply and slack demand sent oilseed meal prices on the cash market skidding to a four-year low. Rapeseed meal temporarily cost only around EUR 180 per tonne fob mill, whereas soybean meal (44% protein) approached the mark of EUR 290 per tonne fob Hamburg. According to Agrarmarkt Informations-Gesellschaft (mbH), the downward slide stopped immediately before Christmas in the wake of rising feedstock prices in Paris and Chicago. The temporary decline of the euro also drove up prices for imported soybean meal. Asking prices recently climbed to a one-month high. However, the long-term price trend is weak because global supply of feedstock is at a record high. Most recently, rapeseed meal approached the EUR 200 per tonne mark, although demand continues to be limited to nearby positions.
Category: Research
