Old-crop rape price plummets

By FWi staff

OLD-CROP oilseed rape prices have slumped over the past week on expectations of a bumper harvest.

Prices have plummeted by £12 since last Monday (8 June), with old-crop supplies currently trading at £173-179/ tonne depending on region.

The drop in prices was exacerbated by a drop in demand from crushers who will shortly shut down for their annual pre-harvest maintenance period.

The new-crop market is also quiet. Farmers remain reluctant to forward-sell new-crop supplies and prices are stuck at about £150/ tonne.