Prices for rapeseed growing
the rise in prices for oilseeds in Chicago and the rise of oil prices to 49.5 $per barrel, began to rise in price of palm oil and sunflower oil. The price for Ukrainian sunflower oil grew to 735-745 $/MT on FOB basis.
On Euronext August futures rose 0.8 percent to 369 euros/t and approached a two-week maximum.
Traders are focused on weather conditions in Canada and Australia, where canola production may be reduced due to increased heat.
Precipitation in EU last week, on the contrary, improved the condition of crops, so the beginning of the harvesting campaign will increase pressure on prices. In the Southeast the EU has already started the collection of canola, farmers hope to obtain a good harvest.
In the South of Ukraine started harvesting rapeseed. In the past week prices rose by 5-6 $/t to 400-405 $/t or 11900-12200 UAH/t on the basis of CPT-port.