PresseBox
Press release BoxID: 797101 (UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.)
  • UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.
  • Claire-Waldoff-Str. 7
  • 10117 Berlin
  • http://www.ufop.de
  • Contact person
  • Sylvia Reder
  • +49 (30) 31904-486

Oilseed meals increase in price

(PresseBox) (Berlin, ) Prices for oilseed meals have soared over the past few weeks. The key driver was, first and foremost, the sharp rise in soybean prices. However, the sometimes tight supply also lent support to asking prices.

Soybean meal is currently at its highest level since the end of July 2015. According to information published by Agrarmarkt Informations-Gesellschaft (mbH), wholesale prices for 44% soybean meal most recently overshot the level of EUR 350 per tonne, while high-protein meal (48%) was in excess of EUR 380 per tonne. The sharp upturn in prices, which started early April 2016, was primarily driven by the surge in raw material prices in response to the poor Argentine soybean harvest. Currently, what is driving prices up is the slow pace of sowing in the US. Consequently, soybean meal is also getting increasingly expensive. Buyers now hope that the boom will wane. However, the prospects for another tightness in global supply with declining ending stocks are likely to maintain prices at high levels for the time being. Rapeseed meal most recently exceeded the EUR 225 per tonne mark. Tight nearby supply has sent prices rising to a level last seen seven months ago.

UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.

The Union for the Promotion of Oil and Protein Plants e. V. (UFOP) represents the political interests of companies, associations and institutions involved in the production, processing and marketing of domestic oil and protein plants in national and international bodies. UFOP supports research to optimise agricultural production and for the development of new recycling opportunities in the food, non-food and feed sectors. UFOP public relations aim to promote the marketing of domestic oil and protein plant end products.