Now oil shortage boosts rape price

Monday, 12 January, 1998

By FWi staff

THE few lucky farmers who chose to wait rather than sell can now command an oilseed rape price of almost £175/ tonne – the highest this season.

The rise in rape prices shows little sign of slowing, report analysts.

High world demand for oil has lead to high crusher demand for rapeseed throughout Europe, according to the Home Grown Cereals Authority.

And with the majority of this seasons crop already marketed, farm supplies are reported to be thin.

Scottish rape prices climbed by £5.40 on Friday to £169.70/ tonne.

But prices in England remain even better. In the South-east, ex-farm rape is trading at an average of £174.70. In the North-west, prices rose £3.00 to end the week at £174.50.

East Anglian rape showed a smaller rise of £0.90 to £172.20. Prices in other regions remain unchanged at about £172/ tonne.