The world market price of rapeseed decreased

By: STA Date: 2023. 11. 21. 11:00

According to Tallage’s information, the world market price of rapeseed decreased between September 15 and October 13 due to the drop in the price of crude oil and the good harvest of the main producing countries.

(Photo: Pixabay)

In Germany, rapeseed for November export (C&F Hamburg) fell by $23 to $461/ton. In Ukraine, the immediate export (FOB) price of rapeseed delivered to the western border was $30 lower ($335/ton). In Russia, the spot market price of the crop fell by $63 to $362/ton as new export duties on vegetable oils were introduced from October 1. In Canada, canola spot port price (FOB Vancouver) decreased by $35 ($556/ton), February 2024 $38 ($559/ton), May 2024 $40 ($565/ton) during the indicated period. In Australia, FOB canola prices were $24 lower ($442/t) on October 13. In India, the immediate export price of the crop decreased by 11 dollars to 709 dollars/ton at the same time. According to AKI PÁIR data, the producer price of rapeseed without VAT and transport costs was HUF 155.6 thousand/ton (-44 percent) in the second week of November. On the Paris Commodity Exchange (Euronext/MATIF), the settlement price of rapeseed for February 2024 was in the range of 430–446 euros/ton between November 3 and 17.