Rapeseed prices fall under pressure from rising supply and weaker canola futures
Global rapeseed and canola prices are declining amid improved harvest conditions in Canada, higher crop forecasts in Australia and the EU, and a seasonal increase in oilseed supplies.
November canola futures in Winnipeg fell by 2.3% to CAD 809/t, or around $570/t. Prices lost 3.2% over the week, with additional pressure coming from weaker soybean futures in Chicago.
Rapeseed prices in Paris also declined, with November futures down 2.1% to €536.5/t, or around $610/t. The contract lost 3.7% over the week.
In Ukraine, demand for rapeseed from crushers is weakening as most plants are switching to sunflower seed processing. Purchase prices have fallen by UAH 500–1,000/t to UAH 19,000–20,000/t delivered to plants.
At the same time, exports remain active: Ukraine shipped 341 thsd tons of rapeseed in the first 24 days of September, compared with 292.6 thsd tons in August. However, higher logistics costs and weaker global prices continue to put pressure on domestic rapeseed prices.
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