European rapeseed oil prices in Rotterdam continue declining, pressured by subdued biodiesel demand. In particular, according to Oil World, as of May 15, prices decreased to around 900 USD/t, down by almost 100 USD/t or 10% for the past several weeks. This is also sharply lower compared to prices set in early February (1160-1180 USD/t).
Moreover, according to Oil World experts, prices were under pressure from burdensome EU rapeseed oil supplies. This is reflected in the unusually large discount (50 USD/t compared to crude palm oil prices in Rotterdam), and in May 2022, the premium amounted to 490 USD/t. With a discount of 40 USD/t versus Argentine soybean oil, European rapeseed oil has the potential to increase its market share in key importing countries.
Experts from Ceras Analytics (part of the Cefetra group) will talk about the challenges and development of the rapeseed market and its processing products at the “VegOil Trade” conference, which will be held on June 8-9 in Rotterdam.
Source: Apkinform