EU rapeseed imports below previous year's level

Rapeseed was able to stabilize yesterday. The most traded November date rose marginally by 0.25 euros/t to 465 euros/t. The subsequent contracts were able to gain a little more in some cases. The European Union's rapeseed imports are developing significantly less than at the beginning of the previous marketing year. While 1.96 million tonnes of rapeseed had already been imported into the EU by the 9th calendar week of the 2022/23 marketing year, there are only 373,837 tonnes so far this marketing year. Sunflower imports are also significantly lower than last year. Only soy was imported more than in the previous year. The EU Commission expects an import volume of around 5 million tonnes this year. In Canada, the harvest is slowly but surely picking up speed. Temperatures in the Canadian prairies are currently around 30 degrees or above, but precipitation is expected locally later in the week. Canola on the ICE was quoted yesterday with losses at Can$809.20/t, which corresponds to a converted rate of EUR 547.34/t.

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