EU restrictions on the use of biofuels put pressure on the price of rapeseed
Yesterday, February futures for rapeseed on Euronext fell by 2.25 €/t and dropped to 243,75 €/t, which is the lowest level of the last 22 months.
the Drop in prices of palm and soybean oil presses on the market of rapeseed oil, which yesterday fell to 710 €/MT on FOB Rotterdam NL.
In Chicago, the price of canola has fallen to 490 CAD/t or 393,6 $/ton, and soybean oil fell to 718 $/t
Traders expect the outcome of the vote by the European Parliament of the draft law on the restriction of the use of biofuels in total transport fuel of not more than 7% by 2030 and the use of the EU biofuels in 2017.
the European Parliament Scheduled restrictions threaten the entire agricultural biofuel industry of the EU - say in CRM AgriCommodities.