Rapeseed price exceeds that of wheat
The European grain and oilseed traders' association Coceral/Copa-Cocega estimates the 2016/17 EU rapeseed supply at 21.2 million tonnes, expecting it to be even tighter than the previous marketing year. The reason is weather-related declines in yield. Although wheat was also affected by the unfavourable weather, especially in May and June 2016, prospects for supply are significantly better as global production is expected to hit a record. Meanwhile, there is scope for upward price movements of rapeseed based on decreasing production both in the EU and worldwide. In other words, the reduced supply to the market will be reflected in prices this year too. Buyers paid around EUR 334 ex farm per tonne of rapeseed already in July 2016. This was just less than EUR 200 per tonne more than what they paid for wheat.
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.