Rapeseed prices down in UK and France

By Vicky Houchin

UK rapeseed prices fell by between £2 and £4/ tonne last week, taking ex-farm prices down to £145/ t for spot delivery.

Futures prices also fell, with the French MATIF market falling sharply and losing around £5 on the November contract. However, rapeseed with a high oil content should continue to receive support through the season.

Soyabean prices were pushed further down this week to an all-time low since the mid-1980s as world oilseed production estimates continued to rise. This was fuelled as the US soyabean crop entered its crucial growth stage in ideal conditions. The USDA is due to release its US crop estimates tomorrow (Wednesday).

China is expected to increase its rapeseed imports by as much as 1 million tonnes this season following devastating floods along the Yangtze River. Oilmeal and vegetable oil imports are also expected to increase.

Vegetable oil prices are expected to hold due to the relatively tight world balance and the continued depletion of palm oil stocks.