Increased supply of GMO-free soybean weighed down price advantage of rapeseed meal
In Germany, UFOP reports that the past weeks’ weakness in prices of GMO-free soybean meal reduced the price advantage of rapeseed meal over soybean meal as ingredients of compound feed.
Over the past few weeks, German prices of GMO-free soybean meal dropped substantially. The rise in GMO-free soybean supply in South America curtailed the price advantage of rapeseed meal, Agrarmarkt Informations-Gesellschaft mbH (AMI) reported. More specifically, prices of GMO-free soybean hovered around EUR 466 per tonne after falling around 9 per cent since the end of April. In contrast, prices of rapeseed meal remained relatively stable at on average EUR 211 per tonne over the past few weeks. In other words, the price ratio changed to the disadvantage of rapeseed meal. Since mid May, the price spread has declined sharply. It even recently dropped below the level of EUR 3.30 per tonne, which was just under EUR 1 per tonne less than a month earlier and the lowest level seen since 25 May 2016.
Category: Fuels
