Rapeseed meal hits 3 year high

In Germany, UFOP reports that the disappointing 2018 EU rapeseed crop and brisk demand from compound feed manufacturers pushed rapeseed meal to a three-year high. The rise has reduced the price advantage over GMO-free soybean meal. Wholesale prices for rapeseed meal firmed considerably over the past few weeks. Since the beginning of July 2018, asking prices have risen by just about 16 per cent to the recent level of EUR 249 per tonne ex works. This was the highest level in more than three years.

The Union zur Förderung von Oel- und Proteinpflanzen (UFOP) has underlined the importance of comparing rapeseed meal prices with those of GM-free soybean meal. The association holds that the current changes in supply and prices confirm the steady increase in demand for foodstuffs labelled as “without GM”. At the same time, producers meet the sustainability requirements as regards the dated proof of origin of the production area of rapeseed as a feedstock for rapeseed meal production. Such rapeseed is grown on land that was in agricultural use before January 2008 already. UFOP has questioned whether analogous evidence is also feasible for GM-free soybean imports.