Monday, 14 February, 2000

By FWi Staff

UK oilseed rape values inched up slightly over the week as farmers continued to hold onto stores in the hope of higher prices.

But rain in South America has improved hopes for the soya harvest raising oil prices and preventing values from climbing much further.

UK prices rose 1/t with February deliveries made to Liverpool inching up to 115.50/t. Deliveries made to Erith are at 114.50/t with Hull/Selby at 111.50/t.

April to June values are also up 1 at 118.50 for Liverpool and 117.50 for Erith.

Price movements on the MATIF rapeseed futures market were less volatile, showing little change on last week, noted the Home Grown Cereals Authority in its weekly MI report.

“The weak Euro against the US Dollar continued to help the competitiveness of EU seed on world markets.

“Ongoing export inquiries for EU rapeseed from Pakistan and Bangladesh were reported.”

Planting of English oilseed crops are significantly down this season, according to latest survey by MAFF.

English farmers have planted just 0.28 million hectares of rapeseed on non-set-aside land compared to 0.39 million ha in 1998.

Winter linseed is also down at 0.01 million ha compared with 0.018 million ha in 1998.

This reduction will be a reaction to the first year of agenda 2000 cuts in area aid, said Heike Hintze-Gharres of the HGCA.

“Linseed is not as profitable as last year although if used as a break crop it might still be worth it,” she added.