Rapeseed prices set for drop in EU
In Germany, UFOP said that cash market prices for rapeseed barely maintained the price gap against the previous year. Prices buyers currently pay for the upcoming crop are even below the year-ago level. The massive decline in crude oil prices and the temporarily firm euro sent rapeseed prices in Paris plummeting to the lowest level in five months at the beginning of February 2016. The price slide also put massive pressure on spot prices, especially because processors do not provide any incentives to thwart it, given the premiums they pay on stock market quotes.
At the same time, producers hardly offer any batches, hoping that prices will rise significantly towards the end of the season. The 2016 crop is also rarely a topic of conversation. Producers obtained EUR 340 per tonne free storage facility for spot material in mid February, Agrarmarkt Informations-Gesellschaft mbH (AMI) reports. This was down EUR 4 per tonne from a week earlier and, consequently, up EUR 8 from the previous year. Buyers most recently accepted to pay EUR 323 per tonne for new-crop rapeseed, EUR 4 per tonne less than the same time a year ago.
Category: Fuels
