EU rapeseed prices rise on supply delays while Ukrainian prices fall

The European rapeseed market is strengthening amid delays in supplies from Ukraine, low water levels on European rivers and a slow canola harvest in Canada. November rapeseed futures in Paris rose 1% over the week to €556.25/t, or around $639/t, and gained 3.3% over the month.

In Canada, November canola futures increased 1.5% over the week to 835 CAD/t, or around $595/t. Prices are being supported by harvest delays caused by rainfall, which could also reduce crop quality and yields.

In Ukraine, the situation is the opposite, with domestic rapeseed demand weakening as crushers achieve better margins from cheaper sunflower seed. Prices for rapeseed with 44% oil content fell to UAH 19–21 thsd/t, while exporters are offering UAH 20.5–21 thsd/t EXW in western regions.

Export bid prices remain at $500–520/t delivered to Danube ports and western border terminals. Prices in Constanța stand at €520–525/t due to ample supplies of Ukrainian and Moldovan rapeseed, while crushers in Germany and the Baltic states have raised bids to €525–535/t.

Ukraine exported 196 thsd tons of rapeseed and 82 thsd tons of rapeseed oil in the first 17 days of September. At the same time, rising supplies of sunflower seed, soybeans and corn are increasing competition for road and rail transport, pushing logistics costs higher and weighing on domestic prices.

Tags: Ukraine, EU, prices, rapeseed, logistics