Rapeseed price higher due to demand exceeding supply
Rapeseed prices have been on the rise since August 22. Developments on the world market explain this upward trend.
The Paris futures market quoted rapeseed on August 22 at €449.75 per ton for delivery in November 2024. After that, prices rose. On October 30, this futures market indicated €514.00.
On Wednesday, October 30, specialists from the European Commission discussed the situation on the market for oil seeds, including rapeseed. The forecast for world rapeseed production was revised downwards for the 2024-2025 season: 87 million tons, a decrease of 4%. This is the result of reduced production in the EU, Ukraine and Australia.
According to the EU forecast, world consumption of rapeseed is 89 million tons, 2 million tons more than production. The EU says that trade in rapeseed is expected to decline by 8%, because Europe can export less to China. That country has more rapeseed in stock than in previous years. The ending stock of rapeseed is estimated to have decreased to 6.6 million tons, the smallest stock in 3 years.
