Rapeseed is on fire, crosses the 800 euros mark in session


Paris (awp / afp) – Rapeseed prices soared Wednesday afternoon on the European market, passing the symbolic bar of 800 euros per tonne shortly in session, in the wake of oils.

Oilseeds, on the rise since the start of the year, should again set a record, driven by firm demand in a very tight energy market.

While oil prices stabilized near their highs in more than a month, soybean oil and canola (Canadian GMO rapeseed) were on the rise.

Rapeseed, like other oilseeds, is widely valued as an agrofuel.

According to the latest figures published by Brussels, European rapeseed imports were down, to 2.41 million tonnes on January 2, against 3.65 million tonnes last year to date.

The European Union is expected to remain a net importer of oilseeds, and production in the 27 Member States will be around 31 million tonnes in 2031. Without much change for rapeseed (around 16 million tonnes forecast), production of sunflower and soybeans, on the other hand, to reach 11.3 and 3.5 million tonnes respectively.

The increase in soybean area could be explained by the growing demand for non-GMO seeds for human and animal consumption.

Around 4.30 p.m. (3.30 p.m. GMT) on Euronext, a tonne of rapeseed rose from 17 euros to 805.25 euros per tonne on the February deadline, and from 7.75 euros to 756.25 euros per tonne on that of May, for around 11,100 lots traded.

afp / al



Source link -88