PresseBox
Press release BoxID: 799855 (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

Rapeseed prices rally

(PresseBox) (Berlin, ) Cash market prices for rapeseed have gone up considerably and exceeded the previous year's level for several weeks. Producers are paid more than previously also for new-crop contracts. The upward trend continues for the time being given the significantly tighter 2016/17 supply.

Rapeseed for prompt delivery currently fetches on average EUR 359 per tonne free storage facility. This translates to a rise of EUR 6 per tonne on the previous year. Buyers accept to pay EUR 346 per tonne for new-crop material. This is even a EUR 11 per tonne surge from the same time a year earlier. According to information published by Agrarmarkt Informations-Gesellschaft mbH (AMI), with the exception of only a few locations, little new business is generated despite rising prices in the old-crop positions. The reason is that supply is very tight. Interest in contracts is also small, because farmers speculate on additional price increases. Such increases are likely because global supply declines while 2016/2017 demand will presumably be brisk.

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.