Rapeseed oil prices trended firm

Vegetable oil prices on the European cash market converged / Only palm oil continued to lag far behind / The trend for the coming months is mixed

Berlin, (PresseBox) - Prices for rapeseed oil, soybean oil and sunflower oil converged in July 2016. Whereas soybean oil and sunflower oil were on a sluggish trend due to abundant supply of feedstock, the price curves for rapeseed oil showed a slight upward trend. According to Agrarmarkt Informations-Gesellschaft mbH (AMI), oil mills are currently stocked up well with feedstock. However, supply could become increasingly difficult and more expensive in the coming months because of smaller than expected EU rapeseed supply. In addition, demand is picking up because the cap on greenhouse gas emission will rise from 3.5 to 4 per cent in 2017 and demand for biodiesel is going to surge as a result. This development is likely to stabilise the upward trend in prices of rapeseed oil. August volatility of soybean oil prices continues to be large due to the US weather market. The downward pressure on palm oil is expected to grow continuously in view of a record production in Southeast Asia in 2016/17.

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.

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