Rape price stable
MEMBERS of Framlingham Farmers oilseed rape pool were protected against a £26/t market swing last season, receiving an average of £160/t including bonuses.
Spot rape values ranged from £128/t to £154/t over the year, says the co-ops Barry Howard, but over half the 10,000t committed was sold by last Christmas, when prices were at their best.
"Many farmers traditionally leave rapeseed unpriced until the New Year, which in the past has proved successful," he says. "However, in recent years we have seen prices higher at the beginning of the season, with the lack of overseas competition and US weather conditions offering good forward pricing opportunities."
This looks to be holding true so far this season, with drought affecting the soya crop in the US as well as crops in Canada, India and China. Although the £s strength against the $ and an advancing harvest have limited any rises, UK rape remains steady at about £134/t ex-farm for harvest movement. *