Rapeseed shows significant price fluctuations

Photo: Canva
Photo: Canva

The price formation of rapeseed shows considerable price fluctuations on the futures market in Paris. Since the end of April, price gains and price falls have alternated every day.

Damage to soy crops lifts rapeseed

Just like last week, there was also a significant price increase on Monday at the beginning of this week. Reports of damage to soybean crops due to flooding in Brazil lifted oilseed rape prices from the August contract above €480.00 per tonne. Pushing to the €500.00 limit is not yet an option. Prices returned on Tuesday and this is also the case this week.

Rapeseed harvest stabilises

According to the latest report from the United States Department of Agriculture (USDA), the global rapeseed harvest will stabilise at around 88 million tons in 2024-2025. Production declines, especially in the European Union and the United Kingdom, are offset by larger harvests elsewhere. Canada will thus regain its position as the largest rapeseed producer. In the past 3 years, the largest harvest has been in the EU.

A larger rapeseed harvest is also expected in Australia. On the other hand, there are smaller harvests in Ukraine and India. The smaller harvest in Ukraine means that buyers in the EU will have to look further to meet their raw material needs. German buyers are said to have already secured a considerable amount of rapeseed in Ukraine for delivery in July and August.

John Ramaker Commodities market editor, Boerderij