The price of rapeseed is growing, despite the increase in production in EU
According to the forecast of experts of Oil World, in comparison with the previous season, the EU countries in 2017/18 MG will increase rapeseed production from 20.48 to 22.04 million tons.
the Gross yield will rise in France, from 4.74 to 5.22 million tonnes, Germany – from 4.62 to 4.72 million tons, Poland – from 2.15 to 2.95 million tons, Romania – from 1.73 to 1.77 million tons at the same time reduced the yield of rapeseed in Austria, Hungary, Czech Republic, Bulgaria and Spain.
in the past few weeks, the volumes of rapeseed processing in the EU decreased for the low number of proposals from the European oilseed farmers. Moreover, the EU market fell significantly demand for rapeseed oil.
On Euronext rapeseed price rose yesterday at 3.25 €/t to 368,75 €/t or 433,6 $/t because of the news about the possible reduction of production in Canada and the predictions of further rise in price of soybean and rapeseed oil.
Traders are closely monitoring the information about the production of oilseeds in Australia and Canada, because the rape of these producers were in the previous season, most of the imported 3.5-4 million tons.
Ukraine in 2017/18 MG will increase exports of rapeseed from 1 to 1.6-1.7 million tons mainly It will be implemented in the EU, which will improve the balance sheets of European processors of oilseeds.