Rapeseed is increasingly following the oil price due to its use in biodiesel production. Since the demand for fuel will decrease noticeably due to the largely closed public life, the demand for rapeseed will also be lower, which drives prices to a low level. Rapeseed receives fundamental support from the forecast of the German Raiffeisen Association, which published its first harvest forecast last week. Rapeseed cultivation is expected to increase compared to 2020 and the hectare yields are also better in the opinion of the analysts, but the area remains comparatively small this year with 0.95 million hectares. If one looks at further analyzes for the whole of Europe, the import requirement for rapeseed should remain high in the normal course of business. But no one currently knows what effects the pandemic will have and how the restrictions on the economy and the demand for biofuels or agricultural goods as a whole will be.
Source
ZMP LIVE
