rapeseed oil European Rapeseed Oil Continues Getting Cheaper Fediol: Sharp Increase in Biodiesel Imports Hits EU Rapeseed Market

Fediol: Sharp Increase in Biodiesel Imports Hits EU Rapeseed Market

Mintec Global
Spread the news!

Rapeseed oil prices in the EU have fallen by more than 30% over the past five months, which was reflected in the European raw materials market, as prices for rapeseed also went down. This was reported by the Association of Vegetable Oil Producers (FEDIOL). According to experts, the “abnormal growth” of biodiesel imports puts serious pressure on prices.

Unicaps Sunflower seeds

Rapeseed is the main oilseed crop for the European Union: its processing produces rapeseed oil, which is considered a key raw material in the production of biofuels in the bloc’s countries.

“The EU also approves the production of biodiesel derived from waste oils and fats as part of its renewable energy targets,” it said.

FEDIOL said the current price changes are a signal of “abnormal market behavior.” The industry association did not promptly provide data on biodiesel imports to the EU.

Traders refer to other factors that pushed prices down: in particular, in their opinion, this is a sharp increase of rapeseed imports by the European Union and changes in biofuel policy (abandonment of palm oil in production).

It should be noted that imports of vegetable oils in the EU in the current season decreased sharply. This is due not only to the active arrival of Ukrainian oilseeds to the market but also to the unwillingness of Europe to use “palm” in the production of biodiesel.

Source: Apkinform

Import/Export Statistics

Please click to reach our marketplace