Rapeseed imports behind last year

After a strong increase on Friday and largely unchanged prices on Wednesday, rapeseed went down yesterday, Tuesday. The most traded front month, February 2024, closed 6 euros lower at 439.00 euros/t. The weekly export statistics currently show 1.602 million tonnes of rapeseed imports for Europe. Last year there were around 900,000 tonnes more at this time. Just over 60 percent of imports come from Ukraine, while Australia delivered around 17.7 percent of imports this year. The Republic of Moldova also contributes quantities to a somewhat smaller extent. On the cash markets, the prices quoted also trended weaker yesterday with less trading interest. In addition to weak effective trading, the downward trend in the crude oil market and in competing vegetable oils is having a particularly negative impact on price developments. Brent and WTI closed yesterday at their lowest level in over three months, with weak economic data from China in particular causing the strong downward movement.

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