In Germany today it is observed low trading activity on the rape oil market. Producer rape oil prices have dropped to 34€/ mc, the market is characterized by a small decline in rape oil production.
Despite all the factors the forecasts of the United States Department of Agriculture for the oilseed rape crop in December-November, 2013 were optimistic. The forecasts were based on the oilseed crop productivity in November, 2013 at the level of 67, 9 m tons and in January, 2014 yield of rape harvest increased to 70,1 m tons.
This fact and positive news from sellers of soy products on the food and oil markets inspire hope into buyers that prices could be reduced. The European Union increased import duties for Argentina and Indonesia biodiesel, but that change had only a conditional effect on the market.
According to the experts of the Ukrainian Biofuel Portal pellets-wood.com the current price of rapeseed oil is 700 €/t (FOB Rotterdam), at the same time for the past few weeks rapeseed prices for the food industry were held at 240 - 250 € /t. However, both indicators point to certain price pressure.
In Germany purchase price of rape was 386,85 €/t (as of March 16, 2014). The previous price was at the lower level - 375,16 €/t. Price changes amounted to 11,69 €/t (3,02 %).
The contracts for the crop supplies in May, 2014 include the rape oil price at the level of 430 €/t, although today’s price is only 360 €/t. Rapeseed oil producers data also suggest that the situation in the coming weeks is unlikely to change.
