OSR price up 5/t

By FWi staff

UK rapeseed prices gained a further 5/t over the week, taking support from tight domestic supplies and MAFFs lower-than-expected winter area estimate.

The Ministrys estimated figures released last week confirmed earlier reports that plantings are down 39% on 1998 firming new crop values.

Delivered prices were also higher despite an increase in ex farm trading, noted the Home-Grown Cereals Authority in its weekly MI report.

March deliveries to Liverpool rose 5 to 125/t, with Erith at 124/t. April to June deliveries were also higher, with Erith at 126/t, East Anglia at 124/t and Liverpool at 127/t.

Rape oil values have followed seed prices, recovering from their previous lows, said a spokeswoman for the HGCA.

“But unlike rapeseed, whose stocks have been revised lower, rape oil supplies remain well above last years level. This could limit seed prices in the near term.”