Chinese Biodiesel Pushes Down EU Rapeseed Oil Prices UFOP: rapeseed oil has great potential in the biofuel market In 2024, the volume of world biodiesel production may reach its highest point, while the intermediate growth in production of this product from year to year will be the highest. This forecast was announced by the managing director of UFOP (Union for the Promotion of Oil and Protein Plants) Stefan Ahrens. According to him, the development of biofuel industry is gradually taking its important niche and is a powerful driver for the agricultural sector. However, he notes, the biodiesel sector is still seeing declining use of rapeseed. "Rapeseed oil has great potential to replace the lack or decline in the use of palm or soybean oil in biofuel production. However, the question is, is there enough rapeseed on the market to meet demand? In this context, the conflict in Ukraine has been a challenge for the industry. Although a sufficiently high yield of oilseeds in the EU was able to partially compensate for the reduced supply of Ukrainian rapeseed on the market. But the problem remains, "- said the expert. At the moment, there is significant competition for biofuels on the market, and the agricultural sector will also have to fight for its share, said Ahrens.

Chinese Biodiesel Pushes Down EU Rapeseed Oil Prices

Posted on
Mintec Global
Spread the news!

Rapeseed oil prices on the European market have fallen to the lowest value for the last three years amid the crisis in the biofuel sector. According to Hamburg-based analytical agency OilWorld (Germany), quotations for the product are now below the level of $840 per ton – this is already almost $180 less than the average value of March this year.

Unicaps Sunflower seeds

“European countries are actively importing biodiesel from China, which significantly reduces the demand of EU buyers for local biofuels,” German experts explain.

Rapeseed is the main oilseed crop for the European Union: as a result of its processing oil companies receive rapeseed oil, which is considered a key raw material in the production of biofuels in the bloc.

OilWorld (Germany) notes that in the first four months of 2023, the EU bought about 850,000 tons of biodiesel from the Celestial Empire – almost double the level in the same period last year.

“This result was achieved even despite the fact that in April shipments of the product from China fell to a minimum of 4 months – to 178 thousand tons,” – say the experts.

Import/Export Statistics

Please click to reach our marketplace

The following reports may be of interest to you:

Sunflower Market Forecasts for 2024 in Ukraine May Be Revised
There Are Significant Price Fluctuations on the Rapeseed Market
Sunflower Seed Availability Tightens, Prices Likely to Rise
Aldi Sunflower Seeds Recalled Over Salmonella Concerns
Soybean Prices: Mixed Trends in Brazil and Chicago as the Week Begins


Related posts:

rapeseed oil European Rapeseed Oil Continues Getting Cheaper Fediol: Sharp Increase in Biodiesel Imports Hits EU Rapeseed MarketFediol: Sharp Increase in Biodiesel Imports Hits EU Rapeseed Market Palm Oil Prices Surge in Malaysia, India Shifts Preference to Soybean and Sunflower OilEU Reduces Vegetable Oil Imports This Season rapeseed oil European Rapeseed Oil Continues Getting Cheaper Fediol: Sharp Increase in Biodiesel Imports Hits EU Rapeseed MarketRapeseed Oil Prices Fall Below Palm Oils in EU Odessa Port grain corridor Vessels hardly moving through "Grain Corridor"Ukraine Odessa: On Monday Three Ships With Oilseeds Left the Port RussiaRussia Oilseeds: Who Does Not Do What Russia Wants Shall Feel It Ministry of Agriculture: Russia Must Export 50-60 Million Tons of Grain This Season Sunflower seeds field farmer kernels oilseeds USDA: Oilseeds Production to Increase, Exports Decrease, ForecastRussia Expects Record Grain Harvest and Also for Sunflower Seeds European Union flag The European Commission Has Officially Banned Import of Certain Products From UkraineEU Countries Have Exported More Than 4.1 Million Tons of Oilseeds Conditions for Automatic Licensing of Sunflower Exports SetUkrainian Sunflower Oil Exports Suspended Until June 2022